Bloomberg: Saudi oil sales to China set to halve in May

Sales of Saudi Arabian crude oil to China are expected to be cut in half in May as the war in the Middle East disrupts supply routes and drives up prices, Bloomberg reports, citing traders familiar with the situation.

Next month, the world’s largest oil exporter is expected to ship around 20 million barrels to its customers in China.

By comparison, around 40 million barrels were scheduled for shipment in April.

Traders said the decline in volumes is linked to market disruptions caused by the regional conflict, which has affected shipping routes and contributed to higher oil prices.

By Jeyhun Aghazada