Saudi Arabia's Oil Exports to China Plummet

Saudi Arabias crude oil exports to China plummet in June, down to 13-14 million barrels, a stark contrast to the usual 40-50 million. The war in Iran has disrupted traffic through the Strait of Hormuz, forcing Saudi to reroute through Yanbu terminal. Despite higher official selling prices and steep prices in the physical market, two European refiners declined Saudi term supplies for June. Saudi continues to push oil through alternative paths as buyers seek better deals. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/1bd3ec52edf771bf