What: China Stopped Buying Oil from the US?
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There are many reasons why
There are many reasons why China made the decision to forgo purchasing oil from the US. The BRICS countries play a pivotal role in China's new energy strategy. Russia, for instance, has become a crucial supplier of oil to China. Despite Western sanctions on Russia following its actions in Ukraine, the energy trade between China and Russia has flourished. This relationship is mutually beneficial: Russia gains a stable market for its oil, while China secures a reliable source of energy, less susceptible to Western political pressures.
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Link to articles:
www.forbes.com/sites/kenroberts/2018/10/18/china-s….
www.huffpost.com/entry/saudi-arabia-pivots-toward-…
www.telegraph.co.uk/news/2024/08/13/china-biggest-…
oilprice.com/Energy/Crude-Oil/China-Is-Quickly-Bec…
www.caspianpolicy.org/research/energy-and-economy-…
www.afpc.org/publications/articles/the-evolution-o….
www.iea.org/data-and-statistics/charts/global-and-…
www.reuters.com/business/energy/iea-keeps-2024-oil…
www.bloomberg.com/news/articles/2024-03-03/china-b…
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