Already earmarked its second largest supplier, China is significantly increasing its imports of oil from Angola, rather than from its main supplier, Saudi Arabia.
Sweeping changes in the price of Brent have lowered the price of African oil, which is pegged to it. So, in July, China increased its oil purchases from African countries to 6.51 million tons (47.5 million barrels), according to estimates released last week by Thomson Reuters.
Sources: macauhub.com and Thomson Reuters
China increases oil imports from Angola
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