It Is Due To Iran And Russia.. Iraq And Saudi Arabia Have Fallen From The Top Oil Exporters To China, 22 SEPT

 It Is Due To Iran And Russia.. Iraq And Saudi Arabia Have Fallen From The Top Oil Exporters To China

2024-09-21 03:34  Shafaq News/ The "Iraq Al-Mustaqbal" Foundation for Economic Studies and Consultations attributed, on Saturday, the reason for the decline of both Iraq and Saudi Arabia from the ranks of the largest oil exporters to China to the incentives provided by the Russians and Iranians to increase the purchase of their raw materials.

The institution stated in a report published today that Russia acquired 22% of China's oil imports in August 2024, at prices less than 6% of the average purchase prices.

He added that the Iranians, through Malaysia, acquired 17% of China's oil imports and less than 10% of the average price, which pushed both Iraq and Saudi Arabia to fall from the position of the largest exporters of crude oil to China, which is the largest market.

According to the institution's report, during last July, the average price of Russian oil was less than 4% of the average price, while the average price of Iranian oil was less than 7.5%, meaning that both parties increased their incentives to China to continue China's dependence on the oil of the two countries, even if at prices lower than the offered rates.

The institution attached to its report a detailed table on oil sales to countries that deal with China, as listed below:  LINK