Phnom Penh (FN), Jul. 22 – China has significantly impacted the global economy and energy market, contributing 28% to global growth and half of increased energy consumption from 1990 to 2022.

From 2000 to 2023, China's crude oil imports rose from 1.4 million to 11.3 million barrels per day (bpd), making it the world's largest importer with a 23% global share in 2022. In 2023, China spent $337 billion on crude oil imports, mainly from Russia and Saudi Arabia (2.15 million bpd and 1.73 million bpd).

Exports to China increased from the US, Malaysia, Brazil, and Russia, while those from Gulf Cooperation Council (GCC) countries decreased. Malaysia may have been an intermediary for Iranian imports.

GCC countries supplied 36% of China's crude oil in 2023. Including Iraq and Iran, the Persian Gulf region supplied over half, and with Russia, nearly three-fourths of China's imports.

This article was originally published on Voronoiapp.
=FRESH NEWS