08 Sep, 23

Saudi Arabia Aims To Regain Market Share In China

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1. Saudi Arabia Seeks to Regain Market Share in China- As Saudi Arabia is finalizing its 2024 term contracts, to be done by the end of October, the Middle Eastern kingdom is set to increase its crude supplies to China as new refining capacity lifts offtake. – Russia has become the top crude supplier to China with 2.1 million b/d exported in January-July, some 300,000 b/d higher than Saudi Arabia’s exports with Iraq coming in at third place with 1.2 million b/d. – Saudi growth will be led by the 800,000 b/d Zhejiang Petroleum & Chemical…

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