Angola becomes China's biggest oil supplier in September
(Reuters) Angola became China's largest crude supplier for the second time in September, taking the top position from Russia, customs data showed Monday.
China imported 4.19 MMt of oil from the southern African nation last month, up 45.8% from a year ago. That meant Angolan shipments stood at 1.02 MMbpd, below 1.11 MMbpd seen in August, the last time the country was the top exporter to China.
The amount of crude oil heading east from ports on Africa's west coast is expected to reach a five-month high in September, partly driven by trading houses such as Trafigura and Gunvor, a Reuters survey showed in September.
Chinese demand for Angolan oil, which is cheaper and deemed to offer stable supply, is set to accelerate in October as the refinery maintenance season comes to an end.
In the first nine months of 2016, Angola was also China's third-largest supplier. Imports jumped 17.7% on-year to 916 Mbpd in the period, data showed.
Imports from Iraq jumped 58.4% in September from a year earlier to 989 Mbpd. In the January to September period, imports grew 10.3% from a year ago to 706 Mbpd.
Imports from Russia were down 2.14% year-on-year in September at 962 Mbpd. Saudi Arabia supplied 949 Mbpd, down 1.29%.
Saudi Arabia still holds the position of top suppler year-to-date, with shipments at 1.03 MMbpd.
China imported record volumes of crude oil last month, eclipsing the United States as the world's top buyer of foreign oil as Beijing's state reserves shipped in cheap crude to fill new storage tanks.
Reporting by Meng Meng and Chen Aizhu; Editing by Joseph Radford
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