Saudi crude to China to surge in May after price fall, sources say

Saudi Arabia is set to significantly increase its crude oil supply to China in May, reaching approximately 48 million barrels, a notable rise from April's 35.5 million. This surge follows Saudi Aramco's decision to sharply reduce prices, making its oil more attractive to Chinese refiners. The price cut, a four-month low, comes after OPEC+ surprisingly decided to boost output.