Saudi Arabia’s oil exports to China increased by 43 percent month-on-month in November 2020 to reach 8.48 million tons, or 2.06 million barrels per day (bpd). Accordingly, the Kingdom restored its position as the largest oil supplier to China, Reuters reported.
Russia came second, with oil exports of 6.1 million tons. It was followed by Iraq with 5.098 million tons.
China’s imports from the US jumped in November to 3.61 million tons, compared with 0.26 million in the same period of 2019 as the companies accelerated their energy purchases as per a commercial agreement.
Meanwhile, China’s oil imports from Saudi Arabia increased by 2.2 percent year-on-year during the period from January to November 2020 to reach 77.98 million tons.
This shows china growing influence and the two countries coming closer to eachother .soon there is liklihood that world will see new alignments and shift of power.
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