Russia, OPEC Jostle to Meet China Oil Demand

Glut of Crude Fuels Rivalry Between the Major Producers

By BRIAN SPEGELE

BEIJING—Warming ties between China and Russia are giving a big boost to Chinese imports of Russian oil, to the chagrin of OPEC nations jockeying for a slice of China’s market.

Faced with falling prices and lower demand from the U.S., oil-exporting nations are increasingly putting their hopes in China’s still-robust demand for crude. But Saudi Arabia and other big producers like Venezuela have seen such sales drop as Moscow’s isolation from the West over Ukraine prompts it to turn to Beijing.

Read more » The Wall Street Journal
See more » http://www.wsj.com/articles/russia-opec-jostle-to-meet-china-oil-demand-1421987738

By using this service you agree not to post material that is obscene, harassing, defamatory, or otherwise objectionable. Although IAOJ does not monitor comments posted to this site (and has no obligation to), it reserves the right to delete, edit, or move any material that it deems to be in violation of this rule.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s