home Oil Prices, Production Russia-China Friendship Makes Europe’s Crude Oil More expensive

Russia-China Friendship Makes Europe’s Crude Oil More expensive

Russia-China crude oil friendshipEurope will be paying more for oil now that russia is moving more of its supply to the chinese oil market. Russia is the biggest crude oil supplier to China and will most likely gain the exports to the country by 200,000 barrels a day in 2018. Russia supplied 5.12 million tons of their crude oil to China in November, which is about 1.3 million barrels per day. They also are trying to start selling natural gas by December 2019.

 

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