China Look to Take Advantage of Iran's Situation by Negotiating New Oil Prices
In a turn of events that could prove disastrous for Iran, it has found its largest exporter, China, recently reducing the amount of oil it buys and looking for other sources, such as Saudi Arabia. China normally accounts for 20% of Iran’s exports, but has reduced the quantity of oil purchased by about 250,000 barrels per day (bpd), just over half of original supplies. It has nothing to do with current US and European sanctions but is more of a negotiating ploy to help increase the bargaining power of China.
They are trying to take…
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They are trying to take…
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