Saudi Arabia is set to significantly boost its crude oil exports to China in August, marking the highest volume in over two years, a development that underscores the deepening energy cooperation between two influential members of the BRICS+ coalition. According to five independent trading sources, Saudi Aramco will supply approximately 51 million barrels to China in August, translating to 1.65 million barrels per day (bpd). This volume is four million barrels higher than allocations in July and represents the highest export level since April 2023, as per data from Reuters and energy analytics firm Kpler.
This increase comes at a time when China, the world’s largest importer of Saudi crude, is ramping up its refining operations following a wave of maintenance work in the second quarter. State-owned refining giant Sinopec, Asia’s largest refiner, is expected to receive a larger share of this oil as it boosts output capacity. While Aramco and Sinopec have not issued formal comments, industry insiders confirm that allocations to other Chinese refiners will remain unchanged.
The ramp-up in Saudi exports to China is emblematic of the evolving geopolitical and economic alignments within the BRICS+ bloc. With China and Saudi Arabia at the center of these developments, energy cooperation is becoming a cornerstone of a multipolar world order increasingly defined by South-South collaboration.
Energy Security and Strategic Trade Amid Global Volatility
The decision by Saudi Aramco to increase exports aligns with broader trends in the global oil market, particularly in Asia. Aramco recently raised prices for August deliveries to Asian and European buyers by more than $1 per barrel, anticipating a rise in domestic consumption and increased Chinese demand. Asian refiners have already responded by requesting more term crude supplies for both August and September, especially as spot premiums soared in June amid geopolitical tensions, including the Iran-Israel conflict.
These developments are closely tied to a broader OPEC+ agreement to increase production by 548,000 bpd in August, gradually reversing earlier voluntary cuts. The coordinated rise in output is seen as a stabilising mechanism for global markets while meeting the growing energy needs of emerging economies, many of which are central to the BRICS and BRICS+ platforms.
For China, the increased supply offers a chance to stabilise domestic fuel prices and ensure energy security ahead of expected seasonal spikes in consumption. For Saudi Arabia, the strategy reflects a shift toward securing long-term buyers in Asia amid fluctuating demand from the West. The bilateral energy relationship between China and Saudi Arabia, increasingly framed by BRICS+ cooperation, highlights the strategic nature of energy diplomacy in the evolving global order.
Petrochemical Expansion and Economic Synergies
Beyond crude oil exports, Saudi Aramco and Sinopec are advancing their joint ventures in petrochemical infrastructure, a move that further cements their partnership under the BRICS+ economic cooperation framework. The collaboration includes new projects in refining and chemical production, aimed at diversifying economic output and ensuring mutual resilience in the face of global supply chain disruptions.
Saudi Aramco CEO Amin Nasser recently stated that oil demand is expected to remain “steady,” suggesting confidence in ongoing consumption patterns, particularly across Asia. The strengthening of energy ties between Saudi Arabia and China reflects a broader shift toward regionalism and interdependence among BRICS+ members, positioning them as counterweights to traditional Western energy markets.
These deepening economic synergies are in line with BRICS+ objectives to facilitate technology transfer, infrastructure development, and equitable trade practices among emerging economies. As the BRICS group prepares for its next phase of expansion and strategic coordination, the Saudi-China oil relationship stands as a testament to the group’s growing influence in reshaping global energy politics.
The surge in Saudi crude exports to China not only highlights shifting market dynamics but also reinforces the growing strategic alignment between BRICS+ nations. As economic and energy interdependence continues to solidify, BRICS is emerging as a powerful force shaping the future of global cooperation and trade.
Written by:
Dr Iqbal Survé
Past chairman of the BRICS Business Council and co-chairman of the BRICS Media Forum and the BRNN
*Chloe Maluleke
Associate at BRICS+ Consulting Group
Russian & Middle Eastern Specialist
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