Russia became the top crude oil supplier to China last month, overtaking Saudi Arabia with an average of 1.75 million bpd versus 1.26 million bpd for Saudi Arabia, Reuters has reported , citing customs data. In fact, last month Saudi Arabia fell to the third spot among Chinese oil suppliers, with Iraq taking number-two. This compares with 1.66 million bpd of Russian oil imports in March and 1.7 million bpd of Saudi oil imports, A comparison of the monthly averages shows a substantial decline in Saudi oil supplies to the world’s top importer. At the same time, China’s March intake of Russian crude was 31 percent higher than a year earlier, and the April imports from Russia were 18 percent higher than a year earlier. According to TankerTrackers.com data, Saudi Arabia exported 2.083 million bpd of crude to China in April, up from 1.065 million bpd in March. An […]