Saudi crude shipments to China to halve in May as Middle East tensions surge.

Saudi crude shipments to China to halve in May as Middle East tensions surge. The world's largest oil exporter will send roughly 20 million barrels to China next month, down sharply from 40 million in April. The Strait of Hormuz closure due to regional conflict has forced Saudi Arabia to rely on its Red Sea Yanbu port, which has limited capacity of 5 million barrels daily versus the 7.2 million previously shipped through the Persian Gulf. This supply disruption has driven crude prices to record levels, with Saudi Aramco raising official selling prices significantly. The geopolitical crisis shows no signs of easing, with failed US-Iran negotiations and escalating tensions threatening further maritime disruptions. Asian refiners face constraints as they can only access Arab Light grade crude via the Red Sea route.