AGL 40.30 Increased By ▲ 0.30 (0.75%)
AIRLINK 127.29 Increased By ▲ 0.25 (0.2%)
BOP 6.67 No Change ▼ 0.00 (0%)
CNERGY 4.49 Decreased By ▼ -0.02 (-0.44%)
DCL 8.64 Increased By ▲ 0.09 (1.05%)
DFML 41.89 Increased By ▲ 0.45 (1.09%)
DGKC 87.90 Increased By ▲ 1.05 (1.21%)
FCCL 32.81 Increased By ▲ 0.53 (1.64%)
FFBL 64.87 Increased By ▲ 0.07 (0.11%)
FFL 10.26 Increased By ▲ 0.01 (0.1%)
HUBC 109.75 Increased By ▲ 0.18 (0.16%)
HUMNL 14.82 Increased By ▲ 0.14 (0.95%)
KEL 5.13 Increased By ▲ 0.08 (1.58%)
KOSM 7.54 Increased By ▲ 0.08 (1.07%)
MLCF 41.84 Increased By ▲ 0.46 (1.11%)
NBP 59.68 Decreased By ▼ -0.73 (-1.21%)
OGDC 194.98 Increased By ▲ 4.88 (2.57%)
PAEL 28.28 Increased By ▲ 0.45 (1.62%)
PIBTL 7.82 Decreased By ▼ -0.01 (-0.13%)
PPL 152.50 Increased By ▲ 2.44 (1.63%)
PRL 26.65 Decreased By ▼ -0.23 (-0.86%)
PTC 16.19 Increased By ▲ 0.12 (0.75%)
SEARL 84.15 Decreased By ▼ -1.85 (-2.15%)
TELE 7.65 Decreased By ▼ -0.06 (-0.78%)
TOMCL 35.45 Increased By ▲ 0.04 (0.11%)
TPLP 8.17 Increased By ▲ 0.05 (0.62%)
TREET 16.17 Decreased By ▼ -0.24 (-1.46%)
TRG 52.80 Decreased By ▼ -0.49 (-0.92%)
UNITY 26.50 Increased By ▲ 0.34 (1.3%)
WTL 1.25 Decreased By ▼ -0.01 (-0.79%)
BR100 9,953 Increased By 69.1 (0.7%)
BR30 30,951 Increased By 351.4 (1.15%)
KSE100 93,912 Increased By 556.1 (0.6%)
KSE30 29,094 Increased By 163.5 (0.57%)

SINGAPORE: Saudi Arabia’s crude oil supply to China is set to fall to about 36.5 million barrels in December, trade sources said on Monday, on weak demand from the world’s largest importer.

This is a second straight month of decline and the lowest volume since July, down from about 37.5 million barrels that Chinese refiners are expected to receive in November and about 46 million barrels in October, trade data collated by Reuters showed.

China’s state majors Sinopec, PetroChina and Sinochem will be lifting less crude in December while Saudi supply to its joint venture Fujian refinery will rebound as the plant is expected to complete maintenance and resume operations, they said.

The drop in China’s demand came as state oil company Saudi Aramco cut the December official selling prices for all grades of crude it sells to Asia. Refining throughout China is set to decline further for the last quarter due to sluggish profit margins and fuel consumption in road transport.

Kuwait lowers December crude prices for Asia, document shows

Saudi Arabia is the No. 2 crude supplier to China after Russia.

Saudi crude exports to China fell 10.8% to 59.52 million metric tons (1.58 million barrels per day) in the first nine months this year from the same period a year ago, Chinese customs data showed.

Outside of China, two other North Asian refiners will receive full Saudi crude allocation for December, the sources said.

Comments

200 characters