Russia remains China’s top crude supplier in July

Russia retained its position as the biggest crude oil exporter to China in July for the fifth month straight, Reuters reported Wednesday, citing Chinese customs data.

Crude shipments from Russia to the Asian country grew by 54 percent year-on-year (YoY) in July to 4.97 million tons, or 1.17 million barrels per day (mbd).

Russian crude volumes jumped by 16 percent YoY to 34.22 million tons, or 1.18 mbd in the first seven months of the year.

Saudi Arabia was China's second biggest supplier with 3.99 million tons, or 940,000 bbd, a slip of 0.8 percent YoY.

Saudi crude exports to China edged up by 0.4 percent YoY from January to July 2017, compared to 30.59 million tons, or 1.05 mbd in the same period last year.