Saudi Arabia exported nearly 13% less oil to China in March than a year earlier but retained its top supplier spot, while shipments from second-ranking Russia slipped 14%, Reuters’ calculations based on Chinese customs data showed. Saudi crude arrivals totalled 6.858 million tonnes last month, equivalent to 1.61 million barrels per day (bpd), according to data from the General Administration of Customs. That compared to an average of 1.81 million bpd during the first two months and 1.85 million bpd a year earlier. Imports from Russia were at 6.39 million tonnes, or 1.5 million bpd, versus 1.75 million bpd in March 2021 and 1.57 million bpd in the January-February period. The lower supplies from these two exporters came as China’s overall crude imports last month fell 14% on year as independent refiners curbed purchases amid shrinking margins, and as large state-owned plants underwent maintenance. read […]