Saudi Arabia and Russia Fight For Share in Chinese Oil Market

Russia and Saudi Arabia have been fighting for a market share in China ever since oil prices started their downward spiral in mid-2014. The battle has heated up now and teapot refineries could tip the balance. Although Saudi Arabia was the biggest oil supplier to China, Russia managed to take the top spot several times due to the so-called teapot refineries. This has forced the Saudis to target teapots on the spot market to regain lost market share, something that they never did earlier.

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