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Saudi Arabia Slashes May Oil Shipments to China by Half

4/15/2026

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Summary

Story summary

Saudi Arabia plans to reduce its crude oil shipments to China in May to about 20 million barrels, down from 40 million in April.
Arab Light crude now carries a premium of $19.50 above the Oman/Dubai benchmark.
The reduction results from supply constraints due to the ongoing war in the Middle East and the United States blockade of the Strait of Hormuz, prompting tankers to avoid the area.

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Story summary

Saudi Arabia plans to reduce its crude oil shipments to China in May to about 20 million barrels, down from 40 million in April.
Arab Light crude now carries a premium of $19.50 above the Oman/Dubai benchmark.
The reduction results from supply constraints due to the ongoing war in the Middle East and the United States blockade of the Strait of Hormuz, prompting tankers to avoid the area.