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  • China’s Oil Imports Help Saudi Exports Notch Best Month Since 2020

    If flows maintain this pace, Saudi Arabia would hit its highest mark for exports since April 2020. China, for its part, has ramped up its crude flows to the highest levels since April this year as COVID-19 lockdowns started to ease. China's imports are on track for 1.8 million barrels a day in July.

  • Oil slides as renewed China COVID curbs temper fuel demand outlook

    Oil prices fell on Tuesday as fresh COVID-19 curbs in China, the world's biggest crude importer, and fears of a global economic slowdown weighed on the fuel demand outlook. Brent crude futures for September fell $1.35, or 1.3%, to $105.75 a barrel by 0305 GMT, while U.S. West Texas Intermediate crude for August delivery was at $102.64 a barrel, down $1.45, or 1.4%.

  • UN says India’s population may overtake China’s in 2023

    The year 2023 is when India is likely to surpass China as the world’s most populous country, the UN has said. In 2021, India’s population was 1.412 billion, compared to China’s 1.426 billion and by 2050, it’s expected to increase at a much higher rate.

  • Treasury announces sanctions targeting cheap Iranian oil heading for China

    The Treasury Department announced sanctions Wednesday against a number of export companies shipping Iranian petroleum products to China and other east Asian countries, coming to the aid of U.S. allies in the Gulf who are seeing their Asian market share undercut by discounted oil from Russia and Iran. Russian oil exports to China have spiked following Russia’s invasion of Ukraine, which prompted Western countries to block and scale back their imports of Russian energy products. To stay competitive with cheaper Russian oil, Iran has also slashed its prices on exports to China, undermining the big Gulf producers on the international market.

  • Opinion: China-Saudi Arabia Ties Threaten America. Biden Must Reverse Beijing’s Gains.

    When U.S. President Joe Biden visits Saudi Arabia next week, China should be on his mind. His agenda will, of course, include other important matters: recent Saudi commitments to increase oil production, a cease-fire with the Houthis in Yemen, and progress in Saudi normalization with Israel. But the president should also use this trip to argue that deeper ties with China are not in the kingdom’s long-term interest and to show that the United States wants to return to its traditional position as Saudi Arabia’s partner of choice.

  • China And Saudi Arabia Strengthen Alliance With New Megaproject

    Ever since China gave Saudi Crown Prince Mohammed bin Salman (MbS) the opportunity to save face after his many unsuccessful attempts to float Saudi Aramco in what was supposed to be a glorious initial public offering (IPO), MbS has been in Beijing’s debt and Saudi Arabia has appeared to drift further into Beijing’s sphere of influence.

  • Iran applies to join China and Russia in BRICS club

    Iran, which holds the world's second largest gas reserves, has applied to join the BRICS group of Brazil, Russia, India, China and South Africa that Beijing and Moscow cast as a powerful emerging market alternative to the West. The term BRIC was coined by Goldman Sachs economist Jim O’Neill in 2001 to describe the startling rise of Brazil, Russia, India, China. The BRIC powers had their first summit in 2009 in Russia. South Africa joined in 2010.

  • China’s Population Is About to Shrink for the First Time in 60 Years

    China accounts for more than one-sixth of the world’s population. Yet after four extraordinary decades in which China’s population has swelled from 660 million to 1.4 billion, its population is on track to turn down this year, for the first time since the great famine of 1959-1961.

  • Opinion: How the US can counter China’s Middle East influence

    Even if China had more room to manoeuvre strategically in the Middle East, it might not significantly expand its strategic footprint there, because it doesn’t view the region as critical to its security. While the Middle East accounts for nearly half of China’s oil imports, the most important theatre in the unfolding US–China cold war is East and Southeast Asia. China doesn’t want to expend limited resources in the Middle East any more than the US does.

  • China firms in advanced talks with Qatar for gas field stakes, LNG offtake

    China's national oil majors are in advanced talks with Qatar to invest in the North Field East expansion of the world's largest liquefied natural gas (LNG) project and buy the fuel under long-term contracts, three people with knowledge of the matter said. It would be the first such partnership between the two nations, among the world's top LNG consumers and producers, as the Middle Eastern energy exporter shifts to expand its Asian client base at. Global energy corporations used to be the main investors in Qatar's gas industry.