More than 30% of maritime crude oil trade moves through South China SeaStaff Writer | August 28, 2018
The South China Sea is a major trade route for crude oil, and in 2016, more than 30% of global maritime crude oil trade, or about 15 million barrels per day (b/d), passed through the South China Sea.
Energy Saudi Arabia is the largest source of crude oil
In addition, a significant amount of crude oil (about 1.4 million b/d) passes through the strait on its way to Singapore and the west coast of Peninsular Malaysia, where it is refined before transiting the South China Sea in the form of petroleum products.
The South China Sea is a major trade route for the Middle East, which accounted for more than 70% of total South China Sea crude oil shipments in 2016.
Saudi Arabia is the largest source of crude oil, making up almost one-fourth of crude oil volumes traversing the South China Sea. More than half of Saudi Arabia’s global crude oil shipments traveled through the South China Sea in 2016. ■