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China's oil imports are witnessing Russian competition with Saudi and Iraqi exports
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2023-02-08 01:46
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Shafaq News/ The energy platform advisor, Anas Al-Hajji, considered that China's imports of crude oil are witnessing Russian competition with Saudi and Iraqi exports, at a time when its imports from Africa have decreased.
Al-Hajji said, in a press statement, that "Chinese imports of crude oil raise questions about the existence of competition between Russia and the Gulf countries, especially Saudi Arabia and Iraq, over the Indian and Chinese oil markets, and China's markets in particular."
He explained, "Official figures indicate that Saudi Arabia is still the first source of oil to China, given that China's average imports of Saudi oil during November and December 2022 show that it amounted to 1.68 million barrels per day, compared to the same period." from 2021, which amounted to 1.64 million barrels per day.
Al-Hajji also indicated that "China's imports of Iraqi oil, in the months of November and December 2021, were in the range of 766 thousand barrels per day, and now they have increased to range between one million and 1.2 million barrels per day."
He explained that "with regard to Russia, the official exports during the same period, that is, about two months before the war in Ukraine, were only about 820,000 barrels per day, and they currently amount to more than one million barrels."
Al-Hajji added that "China's imports of oil coming from West Africa decreased, and the same is the case with the United States, but it increased in the recent period with openness, but in general we find that the big loser from the increase in Russian oil imports to China is West Africa, not the Gulf countries or America." ".
He noted that "imports to China from Angola fell from 850,000 barrels per day to 620,000 barrels per day, which is a huge amount given its percentage, which amounts to approximately 25%."
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2023-02-08 01:46
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Shafaq News/ The energy platform advisor, Anas Al-Hajji, considered that China's imports of crude oil are witnessing Russian competition with Saudi and Iraqi exports, at a time when its imports from Africa have decreased.
Al-Hajji said, in a press statement, that "Chinese imports of crude oil raise questions about the existence of competition between Russia and the Gulf countries, especially Saudi Arabia and Iraq, over the Indian and Chinese oil markets, and China's markets in particular."
He explained, "Official figures indicate that Saudi Arabia is still the first source of oil to China, given that China's average imports of Saudi oil during November and December 2022 show that it amounted to 1.68 million barrels per day, compared to the same period." from 2021, which amounted to 1.64 million barrels per day.
Al-Hajji also indicated that "China's imports of Iraqi oil, in the months of November and December 2021, were in the range of 766 thousand barrels per day, and now they have increased to range between one million and 1.2 million barrels per day."
He explained that "with regard to Russia, the official exports during the same period, that is, about two months before the war in Ukraine, were only about 820,000 barrels per day, and they currently amount to more than one million barrels."
Al-Hajji added that "China's imports of oil coming from West Africa decreased, and the same is the case with the United States, but it increased in the recent period with openness, but in general we find that the big loser from the increase in Russian oil imports to China is West Africa, not the Gulf countries or America." ".
He noted that "imports to China from Angola fell from 850,000 barrels per day to 620,000 barrels per day, which is a huge amount given its percentage, which amounts to approximately 25%."
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