Aramco Oil Sales to China Set to Fall Sharply in April

Saudi Aramco is set to supply the lowest amount of oil to China in several months, even as the OPEC+ cartel gears up to boost output.

The state-owned Saudi Arabian major will send 34 million to 36 million barrels of April-loading crude to customers in China, the world’s biggest importer, according to data compiled by Bloomberg. That compares with 41 million for March, and a figure below 36 million would be the smallest since at least the first half of last year.

Aramco’s monthly sales to Asia, and in particular to China, are an important source of supply for many refiners across the region. The volume of the shipments, which are sold only via long-term contracts, determines how much crude these processors will need to buy on the spot market from producers including Iraq, the United Arab Emirates and West Africa.

The latest official selling prices offered by Aramco were lower than expected in a Bloomberg survey. At present, it’s unclear if the drop in sales is due to lower requests for cargoes from Chinese customers, or a reduction in supply from the kingdom.

The decline in the Saudi volumes comes as the Organization of the Petroleum Exporting Countries and its allies aim to restore output from next month, kicking off the first of what could be a long series of modest supply increases. That move – coupled with wider concerns about the potential impact on energy demand from the US-led trade war – have weighed on crude futures.

Three other refiners outside of China said they received all of the crude that they had requested. Aramco’s press office didn’t respond to an email seeking comment.

What do you think? We’d love to hear from you, join the conversation on the

The is a new social experience created for you and all energy professionals to Speak Up about our industry, share knowledge, connect with peers and industry insiders and engage in a professional community that will empower your career in energy.

MORE FROM THIS AUTHOR

Bloomberg

 

  • Related Posts

    Russia Switches to Crypto in Oil Trade

    Russia is increasingly using cryptocurrencies in its oil trade with top clients China and India amid U.S. sanctions, Reuters has reported, citing unnamed sources, who said Russian oil traders were…

    Iran Sanctions Prop Up Oil Prices

    Iran Sanctions Prop Up Oil Prices | OilPrice.com `; document.write(write_html); } Breaking News: ByIrina Slav– Mar 14, 2025, 1:44 AM CDT A new round of sanctions targeting Iran’s oil industry…

    Have You Seen?

    DAC one focus with European CO2 Summit 2025 around the corner

    • March 14, 2025
    DAC one focus with European CO2 Summit 2025 around the corner

    UK risks falling behind on SAF targets, advisory body warns

    • March 14, 2025
    UK risks falling behind on SAF targets, advisory body warns

    Oil Prices Rebound on Unclear Path to Ukraine Ceasefire

    • March 14, 2025
    Oil Prices Rebound on Unclear Path to Ukraine Ceasefire

    Qatar To Supply Natural Gas To Syria’s New Government

    • March 14, 2025
    Qatar To Supply Natural Gas To Syria’s New Government

    Iran Sanctions Prop Up Oil Prices

    • March 14, 2025
    Iran Sanctions Prop Up Oil Prices

    Russia Switches to Crypto in Oil Trade

    • March 14, 2025
    Russia Switches to Crypto in Oil Trade

    Qatar Cuts Prices for Its Oil

    • March 14, 2025
    Qatar Cuts Prices for Its Oil

    EPA Says it is Initiating ’31 Historic Actions’

    • March 14, 2025
    EPA Says it is Initiating ’31 Historic Actions’

    Alternative fuels ship regs not likely before 2028 ‘at earliest’

    • March 14, 2025
    Alternative fuels ship regs not likely before 2028 ‘at earliest’

    Air Liquide raises €500m through green bond to support energy shift

    • March 14, 2025
    Air Liquide raises €500m through green bond to support energy shift