In recent years, China’s dependence on Middle Eastern crude oil has been increasing. With much of the world relying on China for a wide array of products, China’s vulnerability is also a global vulnerability. Until China is able to find a way to diversify its suppliers to mitigate risk, this overreliance on Middle Eastern oil is likely to have an outsized impact on both geopolitics and oil markets.
A report published in December 2021 revealed that China’s reliance on Middle Eastern oil was increasing. China is the world’s…Is China Overly Reliant On Middle Eastern Oil?
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