Saudi Oil Exports to China Set to Halve as War Upends Supply and Prices

Saudi Arabia is expected to ship in May halve the crude volumes to China it supplies in April as the Kingdom hiked its official selling prices while part of the supply is trapped in the Middle East due to the war. Saudi Arabia, the single biggest crude oil exporter in the world, is expected to send about 20 million barrels of crude to China next month, anonymous trading sources with knowledge of the matter told Bloomberg on Monday. The volumes in May would be halved compared to the 40 million barrels Saudi state oil giant Aramco is sending to the…