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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Iraq is the third largest oil exporting country to China during the year 2023

    Rocky
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    Iraq is the third largest oil exporting country to China during the year 2023 Empty Iraq is the third largest oil exporting country to China during the year 2023

    Post by Rocky Sat 27 Jan 2024, 4:52 am

    Iraq is the third largest oil exporting country to China during the year 2023

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    Oil field in Iraq



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    Russia achieved crude oil exports to China amounting to more than 673 million barrels in 2023, surpassing both Saudi Arabia and Iraq and achieving first place as the largest exporter of oil to China.
    Saudi Arabia fell to second place with a decrease in its exports to China by 1.75% to reach 540 million barrels, after it was about 550 million barrels of oil in 2022.
    This increase in Russian exports to China is the result of the preferential prices that Russia offers to China, with a difference of approximately $5 per barrel of oil compared to the rest of the oil that China buys from various countries.
    Oil sold from Malaysia to China (which is usually Iranian oil exported to Malaysia and then re-exported to China to avoid economic sanctions imposed on Iran) also increased by 53%, as the volume of oil exports from Malaysia increased from 224 million barrels in 2022 to more than 344 million barrels in 2023, making Malaysia occupy fourth place as the largest oil exporter to China, after it occupied sixth place in 2022.
    As for Iraq, despite the increase in its exports to China by 6.8% compared to 2022, as the volume of Iraq’s exports to China amounted to approximately 372 million barrels, higher than its volume in 2022, which was approximately 349 million barrels, Iraq maintained its third position as the largest exporter of crude oil to China.
    The average price of a barrel of oil purchased from China in 2023 was around $95 per barrel, down by 17% compared to 2022, which was around $114.4 per barrel.
    The average price of Iraqi oil sold to China in 2023 was about 94.4 US dollars, down from 2022, which was about 112 US dollars per barrel.
    Despite the increase in Iraqi exports to China, revenues from crude oil sales decreased by 10% to reach about 35 billion US dollars in 2023, after it was about 39 billion US dollars in 2022 due to the decline in oil prices in 2023.
    China is considered the largest importer of crude oil in the world, with imports amounting to 3.5 billion barrels in 2023, with a value amounting to 337 billion US dollars, after its imports in 2022 were approximately 3.1 billion barrels, with a value amounting to 364 billion US dollars. 
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