China Seals Rare Saudi Crude Deal Amid Muted Imports

China has made a rare move in buying millions of barrels of Saudi crude oil from a tender, despite overall imports remaining below pre-war levels. State-owned PetroChina Co., Sinochem Group, and Unipec, the trading arm of Sinopec Group, have purchased Arab Medium and Heavy grades through the tender. The combined total of 10 million barrels is set for prompt loading.

The purchase marks a significant shift in China's oil imports, which have been muted since the war began. While the exact figures are not disclosed, the move indicates that China is seeking to secure reliable energy supplies from a major producer like Saudi Arabia.