RUS­SIA OVER­TAKES SAUDI ARA­BIA

Qatar Today - - BUSINESS OIL & GAS -

RUS­SIA OVER­TOOK SAUDI ARA­BIA IN 2016 TO BE­CAME CHINA'S BIG­GEST CRUDE OIL SUP­PLIER FOR THE FIRST YEAR EVER, BOOSTED BY RO­BUST DE­MAND FROM IN­DE­PEN­DENT CHI­NESE “TEAPOT” RE­FINER­IES, CUS­TOMS DATA SHOWED. RUS­SIAN SHIP­MENTS SURGED NEARLY A QUAR­TER OVER 2015 TO ABOUT 1.05 MIL­LION BAR­RELS PER DAY (BPD), THE DATA SHOWED, WITH SAUDI ARA­BIA COM­ING IN A CLOSE SEC­OND WITH 1.02 MIL­LION BPD, UP 0.9 PER­CENT IN 2016 VER­SUS THE PRE­VI­OUS YEAR. CHINA IS THE WORLD'S SEC­OND-LARGEST OIL BUYER AND THE FASTEST-GROW­ING MA­JOR IM­PORTER.

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