Home / news / Saudi Arabia is dramatically changing its oil exports to China from the US

Saudi Arabia is dramatically changing its oil exports to China from the US

Saudi Arabia is dramatically altering its oil exports to China from the US

View Reddit by DoremusJessupView Source

10 comments

  1. I hope people actually read the article before spouting off divisive, hyperbolic bullshit. The key points:

    1. The world trades off the US market. KSA is trying to drive the price of oil up by shrinking the amount of oil being refined in the US, artificially inflating pricing because global investors don’t care how much oil is refined in China due to how inaccurate the numbers are.

    2. Long term, KSA wants to sell more oil to the Asian market, because that’s where they see future demand.

    This isn’t really any more than investors making simple business decisions and likely will have very few geopolitical effects.

  2. *Sigh*

    The optimist and strong desire for more ‘green or alternative’ fuels individual in me hopes that Trump and the GOP see this, take it as a massive slight and say, “You know what, screw your oil! We’ll make our own, better energy production! It’ll have solar, tidal and nuclear! We’ll give subsidies and research grants out and we’ll bankrupt both your regimes by making it so profitable for energy/oil companies to switch that they’ll no longer support the drilling practices.”

    A man can dream.

  3. That’s what happens when the US starts to produce more oil than they need, we’re on track to topple Saudi as the top exporter due to fracking.

    [https://www.cnbc.com/2019/03/11/us-threatens-to-topple-saudi-arabia-as-worlds-top-oil-exporter-iea.html](https://www.cnbc.com/2019/03/11/us-threatens-to-topple-saudi-arabia-as-worlds-top-oil-exporter-iea.html)

  4. Sounds like we just found a lot of nukes and now Saudi Arabia is a danger to freedom.

  5. This is the best tl;dr I could make, [original](https://www.cnbc.com/2019/08/15/saudi-arabia-dramatically-changing-its-oil-exports-to-china-and-the-us.html) reduced by 82%. (I’m a bot)
    *****
    > The U.S. is now more self-reliant than ever, thanks to its own shale oil revolution, which helped it become the world's largest oil producer by the end of last year.

    > The numbers also signal a mix of short-term tactics and long-term strategy for the Saudis, industry experts told CNBC.Saudis 'slam on the brakes' to the U.S. "Saudi Arabia learned from the last OPEC production cut in 2017 that they got the biggest bang for their buck by cutting flows to the largest, most transparent and most timely market – the U.S.," said Matt Smith, director of commodity research at commodities analytics firm ClipperData, referring to the coordinated production cut that OPEC and its allies orchestrated to put a floor under falling oil prices.

    > ClipperData's figures, which differ from that of TankerTrackers due to different tracking methods, still show U.S. imports of Saudi crude in July down over 60% from last October.

    *****
    [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/cqpib6/saudi_arabia_is_dramatically_changing_its_oil/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ “Version 2.02, ~420193 tl;drs so far.”) | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr “PM’s and comments are monitored, constructive feedback is welcome.”) | *Top* *keywords*: **U.S.**^#1 **Saudi**^#2 **oil**^#3 **market**^#4 **China**^#5

  6. If need be, these supplies could be cut off via the seas and there isn’t a thing the CCP could do about it.

  7. US only imports from Saudi when it needs oil. Imports have been down significantly for years.

    Since it’s now a top producer, why import when the US can strip it from its own turf (screw the environment…)?

  8. MBS is anti-US. He started an economic war while Obama was in office in order to try and kill the US energy industry so Saudi Arabia could have a near monopoly again. He’s also been courting Putin. You want to know why trumps people are trying to give Saudi nukes, it’s so Saudi can completely abandon the US, and control the Middle East.

    Trump and Kushner are just helping them because they want access after they’re out of office.

  9. Because the US now produces more oil than Saudi Arabia.

  10. Sure, let China refine Saudi oil because China has done such wonderful things with other products, like…

    1) Dry wall… [https://www.nolo.com/legal-encyclopedia/chinese-drywall-problems-health-effects-32402.html](https://www.nolo.com/legal-encyclopedia/chinese-drywall-problems-health-effects-32402.html)

    2) Pet food… [https://topdogtips.com/dog-food-made-in-china/](https://topdogtips.com/dog-food-made-in-china/)

    3) Tooth paste, toys and cosmetics … [https://www.thestreet.com/story/13063992/1/china-has-a-history-of-selling-dangerous-products-to-us-consumers.html](https://www.thestreet.com/story/13063992/1/china-has-a-history-of-selling-dangerous-products-to-us-consumers.html)

    and that just for starters.

Leave a Reply