Saudi Arabian Oil Exports to China Set for Deep Plunge in June

Saudi Arabian crude oil exports to China for loading in June are set to plunge to around 13 million to 14 million barrels, according to traders informed by the producer.

That compares with around 20 million barrels for loading in May, which was already well below historical levels, the traders said, asking not to be named as they’re not authorized to speak to media. Prior to the Iran war, the kingdom typically exported around 40 million to 50 million barrels a month to China, the world’s biggest crude importer.