China became leader in oil imports from OPEC

OPECChina will displace the United States from the top position in terms of actual oil imports from member countries of the Organization of Petroleum Exporting Countries (OPEC).
“A few years ago China surpassed the U.S. in terms of purchases of crude oil from the Persian Gulf. In 2013, the Asian country will become a leader in the supply of crude oil from OPEC countries”, it said in an analysis of The Wall Street Journal Europe. According to the organization during the first half of China’s imports from OPEC has reached 3.7 million barrels, while USA – 3.5 million barrels. As a result, this year for the first time in history, Beijing will overtake Washington on purchases of crude oil from OPEC. The third position goes hand in India by 3.4 million barrels.
“The transformation of China into a major importer of oil from the Middle East will increase diplomatic tensions between USA and China in this key region of the world”, the more analysts from The Wall Street Journal Europe.
The US interest in the Middle East declined in recent months in view of higher domestic production of shale oil and gas. China does increasingly relies on the flow of oil from the OPEC countries.

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