Chinese imports of African crude grades has waned as Chinese importers are now relying more on steady supply of Middle Eastern crudes.
China has long been building inroads into Africa, while the U.S. backs down from the region, leaving a gaping hole in the West’s influence over the “final frontier”. Now, however, we’re seeing all that soft power and oil-backed loans fizzle out as various think tanks note that China is increasingly choosing Arab oil over African crude.
80 mb/d by 2015 before going into a steep decline in the subsequent years. Angola’s current level of production is slightly higher than its OPEC target of 1.10 mb/d. Relations between the South African country and OPEC came to a head last year when OPEC gave the green light to the United Arab Emirates to increase its production by 200,000 barrels per day bpd to 3.2 million barrels in 2024, but lowered Angola’s quota slightly in-line with Angola’s declining production.
Oil Oil Production OPEC Output Cuts Nigeria China Oil Exports
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