Saudi Oil Sales to China Up After Price Cut to Five-Year Low

Saudi Arabia’s crude sales to top importer China for loading in March rose after the kingdom cut the price of its main oil grade for buyers in Asia to the lowest level in more than five years.

State oil producer Saudi Aramco will provide around 56 million to 57 million barrels for loading next month to China, according to traders familiar with the sales, who asked not to be identified due to the sensitivity of the matter. That compares with 48 million barrels the previous month.