The world’s largest oil exporter, Saudi Arabia, significantly raised its crude sales to the world’s largest oil importer, China, in 2019, boosting its exports to China by 47 percent and beating Russia for the top Chinese supplier spot for the first time in four years, according to Chinese customs data as carried by Reuters on Friday. While Saudi Arabia restricts production under the OPEC+ deal, it has prioritized shipments to the most prized markets, China and Asia, at the expense of exports to markets such as the United States....Going where the future lies. It's also the reason that the UK and EU stiffed Trump on his demand to isolate Huawei, endangering the Chinese market for them.
Oilprice
Saudis Boost Crude Oil Exports To China By 47% In 2019
Tsvetana Paraskova
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