Iraq and Saudi Send more oil to China despite cutting overall shipments

World 16:40 02.11.2022

Saudi Arabia, the UAE and Iraq boosted their crude oil shipments to China last month, strengthening their share of a market that Russia has pushed into following the invasion of Ukraine, Ednews reports citing Shafag news. 

The Middle East producers loaded almost 4 million barrels a day of crude for Chinese buyers in October. With some tankers yet to reveal their destinations, it’s possible the final figure will be revised up.

Russia has been racing to identify non-European markets for its crude this year after the 27-nation EU announced it would ban most seaborne purchases from the country in retaliation for its invasion of Ukraine. Since April, China’s total crude imports from Russia jumped about 20% year on year, customs data show.

So-far-published tanker trackers compiled by Bloomberg for October stand at nearly 38 million barrels a day, up by about 491,000 barrels a day from September.

Oil prices have rallied slightly after the Organization of Petroleum Exporting Countries and its allies pledged to cut oil production.

Russia, a key member of the OPEC+ alliance and under pressure from western sanctions, boosted shipments from its far east. It also started using the Northern Sea Route to get oil from the Arctic to China.

Azerbaijan Army holds Military Oath-taking ceremonies - VİDEO

News line

Green technology online platform to be established in Azerbaijan
18:40 10.05.2024
Alparslan Bayraktar: Türkiye aims to deepen energy cooperation with US
18:20 10.05.2024
Bilateral Meeting Commences: Azerbaijani and Armenian Foreign Ministers Discuss Peace Agreement in Almaty
17:45 10.05.2024
COP29 president mulls consequences of climate change in Pakistan
17:22 10.05.2024
Azerbaijan Army holds Military Oath-taking ceremonies - VİDEO
Azerbaijan Army holds Military Oath-taking ceremonies - VİDEO
17:05 10.05.2024
Ilham Aliyev views works done on Khankandi-Shusha-Lachin highway
Ilham Aliyev views works done on Khankandi-Shusha-Lachin highway
17:03 10.05.2024
President Ilham Aliyev lays foundation of Turshsu settlement of Shusha district
16:57 10.05.2024
President, First Lady attend opening of first residential complex in Shusha
16:38 10.05.2024
Armenian FM Mirzoyan: Yerevan aimed at signing peace treaty
16:05 10.05.2024
Scotland's first minister says independence from UK 'can be achieved in five years'
Scotland's first minister says independence from UK 'can be achieved in five years'
15:48 10.05.2024
Russian Analyst Offers Insights on Armenian Border Guard Situation and Foreign Policy Dynamics
15:30 10.05.2024
Azerbaijani FM Bayramov hopes two days of work in Almaty will be positive
15:24 10.05.2024
President, First Lady view reconstruction work at Chol Gala Mosque in Shusha
15:15 10.05.2024
Iranian Government Attempting to Persianize Nizami Ganjavi
15:02 10.05.2024
Iran Unveils Discovery of New Oil and Gas Reserves
Iran Unveils Discovery of New Oil and Gas Reserves
14:45 10.05.2024
Umud Mirzayev: "Heydar Aliyev is an eternal leader"
14:33 10.05.2024
Meeting of Azerbaijani, Armenian foreign ministers kicks off in Almaty
14:22 10.05.2024
Azerbaijani CEC Chairman says parliamentary elections may be pushed forward for COP29
14:10 10.05.2024
Armenian protesters blocked the Armenia-Iran road
13:57 10.05.2024
President Ilham Aliyev attends opening of first tunnel on Ahmadbayli-Fuzuli-Shusha highway
13:39 10.05.2024
Syria holds the key to improved US-Turkey ties
13:25 10.05.2024
Erdogan: Türkiye needs new constitution
12:50 10.05.2024
Armenia's "revanchists" doomed to failure - Ishkan Verdiyan talks on Ednews
12:27 10.05.2024
Azerbaijani state and government officials commemorate National Leader
12:03 10.05.2024
Protest rally starts in State University of Yerevan - VIDEO
11:50 10.05.2024
The Implications of Russia's Military Withdrawal from Armenia: A Strategic Shift in the Caucasus
11:33 10.05.2024
Strengthening Sino-French Cooperation: A Path Forward for the Belt and Road Initiative
11:00 10.05.2024
Azerbaijan’s MFA shares post on 101st birth anniversary of Heydar Aliyev
Azerbaijan’s MFA shares post on 101st birth anniversary of Heydar Aliyev
10:50 10.05.2024
Factions of Armenian parliament ready for impeachment of Pashinyan
10:31 10.05.2024
President Ilham Aliyev and First Lady Mehriban Aliyeva visited grave of Great Leader Heydar Aliyev in Alley of Honor - LIVE
10:09 10.05.2024
‘We will fight with our fingernails’ says Netanyahu
10:03 10.05.2024
US stops sending more than three thousand aerial bombs to Israel
09:50 10.05.2024
Head of Presidential Administration: 1,727 former IDP families returned to Lachin, Fuzuli, Zangilan, Aghdara
09:38 10.05.2024
Saudi Arabia's Crown Prince to visit Japan
Saudi Arabia's Crown Prince to visit Japan
09:25 10.05.2024
Jeyhun Bayramov leaves for working visit to Kazakhstan
09:00 10.05.2024
Azerbaijan celebrates 101st anniversary of national leader Heydar Aliyev
00:01 10.05.2024
Armenian bishop Bagrat: We will initiate impeachment and disobedience actions
21:24 09.05.2024
Malta’s former prime minister charged with corruption over hospital scandal
Malta’s former prime minister charged with corruption over hospital scandal
19:50 09.05.2024
Azerbaijan to hold joint military exercises with participation of Türkiye, Georgia
19:29 09.05.2024
Anatolian Phoenix - 2024 Exercise continues - VIDEO
Anatolian Phoenix - 2024 Exercise continues - VIDEO
19:02 09.05.2024
Hamısı