Who Is Winning The Market Share War In China?

5 Oct 2017   China

The pace of China’s crude oil imports and demand growth is one of the key pieces of data for the oil market and analysts to gauge global oil demand growth. Alongside India, China is the main driver of demand growth, making it a coveted destination for the biggest oil producers, especially those from the Middle East. The better part of a year into the OPEC production cuts, China’s crude oil imports show how market shares have shifted, and who’s winning and who’s losing the Asian oil supply race while the cartel and its Russia-led allies are restricting production. The biggest loser in the market share war for China is undoubtedly OPEC’s biggest producer and de facto leader, Saudi Arabia, which is leading the efforts to curtail supply and push oil prices up. The biggest winners within the production cut deal are Russia and Angola. The winners that aren’t part […]

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