Chinese language Oil Shopping for in Africa Plunges Amid Shift to Suppliers in Russia, Persian Gulf – #information
Chinese language oil imports from African international locations dropped 22.6% year-on-year within the January-September interval, highlighting a decade-long transition away from the continent to suppliers in Russia, the Persian Gulf and Brazil.
The drop in 2022 additional eroded Africa’s complete share of the Chinese language oil market from 13.2% final 12 months to only above 10% in 2022, in response to new Chinese language customs knowledge. However this downward pattern shouldn’t come as a shock because it’s been underway for years.
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