Saudi Oil Supply to China Set to Hike in May

Saudi Arabia's crude oil supply to China is set to surge in May from the prior month, trade sources said on Friday, after the Kingdom slashed its prices to a four-month low.

State oil firm Saudi Aramco will ship about 48 million barrels to China in May, a tally of allocations to Chinese refiners showed, up from April's 35.5 million barrels.