China taps more Saudi Arabian crude oil than U.S.

17:17, February 23, 2010      

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According to the Financial Times, Saudi Arabia's crude oil exports to the United States fell to below 1 million barrels a day for the first time in 20 years. At the same time, China's oil imports from Saudi Arabia increased to over 1 million barrels a day.

Official data show that the first 11 months in 2009, the crude oil imports to U.S. from Saudi Arabia are 998,000 barrels per day, which is the lowest level since 1988; while, Saudi Arabia's oil exports to China reached a record level in December, exceeding the psychologically important level of one million barrels a day.

The drop in U.S. demand for oil from Saudi Arabia, traditionally one of its primary sources, is the result of lower energy consumption overall but also greater reliance on imports from Canada and Africa.

By People's Daily Online
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