Saudi Oil Exports to China Slashed Amid Middle East Conflict
Saudi Arabia is reportedly halving its crude oil sales to China as geopolitical tensions in the Middle East impact supply chains and drive up prices. According to traders, Saudi Aramco will ship about 20 million barrels to China in May, down from 40 million barrels in April.
Saudi Arabia's crude oil sales to China are set to be significantly reduced next month, as the ongoing conflict in the Middle East disrupts supply routes and increases prices, Bloomberg News reported.
The report indicates that Saudi Aramco is planning to ship around 20 million barrels of oil to its Chinese customers for May. This figure represents a substantial decrease from the approximately 40 million barrels that were scheduled for loading in April.
Reuters has not been able to independently verify the claims made in the Bloomberg report.
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