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Saudi Arabia toppled Russia as China’s top supplier of crude in the first quarter of 2019, thanks to a record 1.725mn b/d in March. China imported a record 1.544mn b/d from Saudi Arabia in Q1, ahead of second placed Russia which sent 1.471mn b/d to China, while Angola overtook Iraq for third spot ( MEES, 26 April ).
Saudi Arabia is making good on its pledge in November 2018 to reclaim its position as China’s largest crude oil supplier.
The UAE supplied China 369,000 b/d in Q1, equaling the record set in Q4 2015. In March China took 540,000 b/d from Iran, a seven-month high but volumes look set to fall after the US decided against extending sanctions’ waivers for countries importing Iranian oil ( MEES, 26 April ). (CONTINUED - 150 WORDS)