Saudi Arabia to see record low crude sales to China this May

Saudi Arabia's crude oil sales to China are set to fall to a record low in May as the US-Iran conflict drives up prices and disrupts shipping, people familiar with the situation said.

Saudi Aramco is set to ship about 20 million barrels of oil to its customers in China for May, or about 645,161 barrels per day (bpd), they said.

That would mark the lowest level on record and less than half of the roughly 45 million barrels the Kingdom shipped to China each month in January and February, based on Kpler and Reuters data.