The move comes as China increases imports of discounted oil from Russia Saudi Arabia will cut oil shipments to China in July, Reuters and Bloomberg reported on Friday, citing sources with knowledge of the matter. According to the reports, the world’s largest oil exporter, Saudi Aramco, has notified at least four Chinese refiners that it will be supplying less than the contracted volumes of oil next month. Sources say the move is due to the fact that China is increasing imports of Russian oil at a substantial discount, which Moscow offered to buyers after Western states began canceling Russian deliveries amid the U
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