Russia Is Now China’s Biggest Oil Partner
Russia is now the top crude oil exporter to China. It appears that Russia is reaping the rewards of dumping the dollar. At the the beginning of the decade the Saudi share of Chinese crude imports was around 20%, while Russia’s was below 7%… But that has changed and as the Russians creep in, the Saudis are starting to get nervous. Russia Insider reports: Now the Saudis find themselves neck and neck with Moscow for the lead in Chinese market share, with both performing in the 13-16% range. But Russia’s share continues to rise, as The Kingdom struggles to maintain a foothold. Why?