Los jeques miran a Oriente para vender su petróleo:
Saudi Arabia’s oil exports to the US last year sank below 1m barrels a day for the first time in two decades just as China’s purchases climbed above that level, highlighting a shift in the geopolitics of oil from west to east.FT
China’s economic growth, meanwhile, is prompting Beijing to buy more Saudi oil, a trend Riyadh has encouraged through refinery joint ventures.
“China offers demand security, something that for a long time the oil-producing countries including Saudi Arabia have called for,” said John Sfakianakis, chief economist at Banque Saudi Fransi in Riyadh. “As global demand has been picking up in the east . . . Saudi Arabia has been looking east.”