Top 15 Crude Oil Suppliers to China

Oil tanker (courtesy of Pixabay.com)

Oil tanker (Pixabay.com)

The value of crude oil imported into the People’s Republic of China during 2017 totaled US$162.2 billion in 2017, down by -26.2% since 2013 but up by 39% from 2016 to 2017.

Forty-five countries supplied crude petroleum oil to China in 2017. Nevertheless, close to half (44%) of Chinese imported crude oil originates from just nine Middle Eastern nations ranging from $382.2 million from Qatar up to $20.5 billion for Saudi Arabia.

China’s Top Providers of Imported Crude Oil

Below are the top 15 countries that supplied 89.2% of the crude oil imported into China during 2017:

  1. Russia: US$23.7 billion (14.6% of China’s total crude oil imports)
  2. Saudi Arabia: $20.5 billion (12.6%)
  3. Angola: $19.8 billion (12.2%)
  4. Iraq: $13.8 billion (8.5%)
  5. Oman: $12.2 billion (7.5%)
  6. Iran: $11.9 billion (7.3%)
  7. Brazil: $8.8 billion (5.4%)
  8. Kuwait: $7.1 billion (4.4%)
  9. Venezuela: $6.6 billion (4%)
  10. United Arab Emirates: $4.1 billion (2.5%)
  11. United Kingdom: $3.6 billion (2.2%)
  12. Congo: $3.44 billion (2.1%)
  13. Colombia: $3.37 billion (2.1%)
  14. United States: $3.2 billion (2%)
  15. Malaysia: $2.6 billion (1.6%)

Together, five of China’s leading crude petroleum suppliers (Russia, Saudi Arabia, Angola, Iraq plus Oman) represent over half (55.5%) of overall Chinese crude oil imports for 2017.

China’s top 10 crude petroleum providers supply about four-fifths (79.2%) of its imported crude oil.

Fastest-Growing Suppliers of China’s Imported Crude Oil

The value of Chinese purchases of crude oil from its 15 top suppliers amounted to a subtotal $144.7 billion in 2017, up by an average 39.2% from $103.9 billion worth of imported crude from those same 15 providers during 2016.

  1. United States: Up 1,994% since 2016
  2. Malaysia: Up 220.9%
  3. United Kingdom: Up 101.1%
  4. Congo: Up 60.5%
  5. Colombia: Up 51%
  6. Kuwait: Up 46.4%
  7. Brazil: Up 46.2%
  8. Angola: Up 42.9%
  9. Venezuela: Up 42.8%
  10. Russia: Up 40.6%
  11. Saudi Arabia: Up 31.7%
  12. Iraq: Up 29.3%
  13. Iran: Up 27.2%
  14. Oman: Up 9.1%
  15. United Arab Emirates: Up 6.1%

The fastest gain among the top 15 suppliers of crude oil to China from 2016 to 2017 belongs to America via its formidable 2,000% increase.

Two other top providers of crude oil grew their sales to China by triple-digits year over year, the geographically diverse Malaysia and the United Kingdom.



 
Ten of these top 15 crude oil suppliers garnered increased sales exceeding the average 39% year-over-year uptick for all 45 crude oil sources.

See also Crude Oil Exports by Country, Crude Oil Imports by Country and China’s Top 10 Exports

Research Sources
International Trade Centre, Trade Map. Accessed on April 21, 2018

The World Factbook, Field Listing: Exports – Commodities, Central Intelligence Agency. Accessed on April 21, 2018

Wikipedia, List of crude oil products. Accessed on April 21, 2018