Saudi Arabia plans to reduce its crude oil supply to China in February, shipping approximately 43.5 million barrels, down from 46 million in January. This decrease follows Saudi Aramco’s recent increase in official selling prices to Asia, marking the first hike in three months. The supply cut is attributed to lowered allocations to Chinese refiners such as CNOOC, PetroChina, and Hengli Petrochemical, while Sinopec and Sinochem will receive increased supply. Despite this adjustment, Saudi Arabia remains China’s second-largest crude supplier after Russia.
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