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Chinese Oil Buying in Africa Plunges Amid Shift to Suppliers in Russia, Persian Gulf

Chinese oil imports from African countries dropped 22.6% year-on-year in the January-September period, highlighting a decade-long transition away from the continent to suppliers in Russia, the Persian Gulf and Brazil.

The drop in 2022 further eroded Africa’s total share of the Chinese oil market from 13.2% last year to just above 10% in 2022, according to new Chinese customs data. But this downward trend shouldn’t come as a surprise as it’s been underway for years.

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[NEW PODCAST] Why It's Not China's Fault That Its Trade With Africa is So Distorted

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