Week in Review: Ore, Oil & Oranges

China’s major oil suppliers in Africa and the Middle East are bracing for a downturn in prices after Beijing ordered the country’s largest refiner, Sinopec, to scale back operations. Sinopec will reportedly reduce refining of road and aviation fuels by up to 10% in response to the slowdown in the Chinese economy brought on by the resurgence of COVID-19. Saudi Arabia is China’s top supplier overall and Angola is the largest in Africa. (BLOOMBERG)

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The post Week in Review: Ore, Oil & Oranges appeared first on The China Africa Project.



source https://chinaafricaproject.com/2021/08/13/week-in-review-ore-oil-oranges/

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