Saudi Arabia’s crude sales to top importer China are set to halve next month as the war in the Middle East upends flows and lifts prices, according to traders familiar with the matter.
The world’s biggest exporter is set to ship around 20 million barrels of oil to its customers in China for May, the traders said, asking not to be identified as they aren’t authorized to speak publicly. That’s down from roughly 40 million barrels allocated for loading in April.
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