Saudi Arabia's February Crude Oil Supplies to China Set to Decline

Reuters reported on Monday, citing trade sources, that Saudi Arabia's crude oil shipments to China are expected to drop in February 2025 compared to the previous month. This decline follows Saudi Aramco's decision to raise its official selling prices (OSPs) for Asia for the first time in three months.

Data from Chinese refining company allocations indicate that Saudi Aramco will supply approximately 43.5 million barrels of crude oil to China in February, down from the 46 million barrels shipped in January 2025, which marked the highest supply levels in three months.

Trade sources noted that major importers such as China National Offshore Oil Corporation (CNOOC), PetroChina, and privately-owned Hengli Petrochemical are expected to reduce their crude imports in February. Conversely, Saudi Aramco is set to increase its supplies to China Petroleum & Chemical Corporation (Sinopec) and Sinochem.

This shift highlights the impact of Saudi Arabia's pricing strategy on oil demand in one of its largest markets, as Chinese refiners adjust their procurement strategies in response to higher prices.

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