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2019-08-05 13:35:00

SAUDI ARABIA'S OIL FOR CHINA 1.74 MBD

SAUDI ARABIA'S OIL FOR CHINA 1.74 MBD

BLOOMBERG - Signals from oil tankers last month suggest that Saudi Arabia is sending an ever-larger portion of its crude to China -- with the U.S. losing out.

Saudi Arabia's observed exports to China soared to 1.74 million barrels a day in July, the highest since Bloomberg began tracking the tanker shipments in January 2017. At the same time, the kingdom's shipments to the U.S. appear to have tumbled to 161,000 barrels a day, the lowest during that same period.

The divergence…

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