Saudi oil exports to China are expected to drop in September after reaching a more than two-year high in August. The world’s largest crude exporter has raised its official selling prices, leading some Chinese refiners to cut back on purchases.
According to allocation figures, Saudi Arabia will ship about 43 million barrels to China in September. This equals roughly 1.43 million barrels per day. While the figure remains strong, it represents a reduction from last month’s levels.
Several major refiners in China have adjusted their intake. Asia’s largest refiner, Sinopec, plans to trim its Saudi oil imports during the month. Its Fujian Refinery, operated jointly with Saudi Aramco, will also scale back volumes.
PetroChina and Shenghong Petrochemical will make smaller reductions as well. Industry insiders point to the price hikes as the main reason for these adjustments.
Earlier this month, Saudi Aramco increased its crude oil prices for Asian buyers for the second consecutive month. Strong demand across the region encouraged the move. The price for Arab Light crude rose by $3.20 per barrel over the Oman/Dubai average. This marks the highest premium since April.
Analysts say the higher prices reflect both healthy demand and tight supply conditions in the global market. Furthermore, the pricing strategy signals Saudi Arabia’s confidence in sustained consumption in Asia.
Despite the September slowdown, Saudi oil remains a crucial source for Chinese refineries. Long-term contracts and strategic partnerships continue to underpin trade flows between the two nations. However, market watchers believe price adjustments will influence near-term buying patterns.
Industry experts note that Chinese refiners often adjust their sourcing based on price competitiveness. Therefore, if Saudi oil prices remain elevated, other suppliers may capture a larger share of future shipments.
Additionally, geopolitical stability and shipping logistics play a role in shaping import decisions. As both countries deepen their economic ties, oil trade dynamics will likely remain a key focus in their bilateral relationship.
For now, Saudi oil exports to China will still account for a significant portion of China’s crude imports, even with the temporary reduction. Market players will closely monitor upcoming price announcements to gauge future supply levels.
