Tag: Saudi Arabia oil
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Could the Yuan Replace the Dollar in Saudi Arabia’s Oil Sales to China? Probably Not, But it’s Possible, Says S&P
It wasn't that long ago it would be inconceivable to suggest that Saudi Arabia would switch from the U.S. dollar to the Chinese yuan to settle oil transactions with Chinese buyers. While most analysts say that day is still a long way's off, it's not as far ...
China Imported a Record Amount of Oil Last Year
China broke its all-time record for oil imports last year, averaging 11.3 million barrels a day — 10% more than in 2022, according to new Chinese Customs data. Almost 20% of that volume came from Russia alone, which displaced Saudi Arabia ...
Saudi Arabia to Boost Oil Sales to China Next Year
Saudi Arabia is preparing to increase oil shipments to China in 2024 to meet growing demand from a crop of new refineries that will come online next year, according to S&P Global Commodity Insights. While Russian sales are expected to remain strong ...