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Gold/Mining/Energy : Big Dog's Boom Boom Room

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From: Elroy Jetson6/25/2025 11:57:53 PM
1 Recommendation   of 206084
 
Saudi Arabia, Angola and Iran have always been the largest suppliers of oil to China - until Russia invaded Ukraine and China decided to strongly support Russia's offer of heavily discounted crude oil, moving Russia from China's #4 oil supplier to first place.

China is extremely important to Iran as China is paying Iran for crude oil with tankers of diesel and gasoline refined in China - and by building oil refineries in Iran.

Until this deal with China, Iran had to smuggle in desperate amounts of diesel and gasoline from Turkey, yet still had to strictly ration refined fuels to ordinary citizens in Iran.



China's relationship with Angola – which is both the region's top oil exporter to China and recipient of the highest amount of Chinese loans was forged for purely pragmatic reasons at an opportune moment of mutual need in the early 2000s, has been labelled a ‘marriage of convenience’ which has been experiencing a period of rocky introspection.

China's one time hope of having increasing influence in Angola is no longer realistic as oil prices have decline and the Angolan public have been increasingly unhappy with China's behavior within their country.
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