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Russia Remains China’s Top Oil Supplier —Tom Kool

Summary:
Russia has taken over from Saudi Arabia. For one thing, pipelines across land are more efficient than shipping by tankers. Secondly, Saudi Arabia is in the pocket of the US, which views China as an adversary in addition to a competitor.Russia and China also settle in their own currencies in their own payments system.This implies that Russia is far less dependent on the European market for its exports than it was previously.OilpriceRussia Remains China’s Top Oil SupplierTom Kool

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Russia has taken over from Saudi Arabia. For one thing, pipelines across land are more efficient than shipping by tankers. Secondly, Saudi Arabia is in the pocket of the US, which views China as an adversary in addition to a competitor.

Russia and China also settle in their own currencies in their own payments system.

This implies that Russia is far less dependent on the European market for its exports than it was previously.

Oilprice
Russia Remains China’s Top Oil Supplier
Tom Kool

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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