Source: Global Times
South Africa's Independent Online News, July 29 article, original title: Saudi Arabia's oil exports to China surge. Saudi Arabia plans to significantly increase crude oil exports to China in August, which will set a new high level in over two years, highlighting the deepening energy cooperation between two important members of the BRICS cooperation mechanism. According to sources, Saudi Aramco will export about 51 million barrels of crude oil to China in August, equivalent to 1.65 million barrels per day. This export volume is 4 million barrels higher than the July quota and is the highest level since April 2023.
The increase in Saudi Arabia's crude oil exports to China is a symbol of the evolving geopolitical and economic landscape within the BRICS. In the context where China and Saudi Arabia are at the core of these developments, energy cooperation is becoming the cornerstone of a multipolar world order increasingly defined by South-South cooperation.
For China, the increase in supply provides an opportunity to stabilize domestic fuel prices and ensure energy security before the expected seasonal consumption peak. For Saudi Arabia, this strategy reflects its shift towards seeking long-term buyers in Asia amid fluctuations in Western demand.
In addition to crude oil exports, Saudi Arabia and China are advancing the construction of joint ventures in the petrochemical infrastructure sector, a move that further strengthens their trade and economic partnership within the BRICS cooperation mechanism. These collaborations cover new projects in refining and chemical production, aiming to diversify economic output and maintain resilience together in the face of global supply chain disruptions.
The strengthening of the energy relationship between Saudi Arabia and China reflects a broader trend, as BRICS countries move towards regionalization and mutual dependence, gradually becoming forces to counterbalance traditional Western energy markets.
These deepening economic synergies align with the goals of the BRICS, which aim to promote technology transfer, infrastructure development, and fair trade practices among emerging economies. As BRICS countries prepare for the next phase of expansion and strategic coordination, the oil cooperation between Saudi Arabia and China fully demonstrates the growing influence of the BRICS cooperation mechanism in reshaping global energy politics.
The sharp increase in Saudi Arabia's crude oil exports to China not only highlights a shift in market dynamics but also reinforces the increasingly close strategic cooperation among BRICS countries. As economic and energy interdependence continues to strengthen, BRICS countries are gradually becoming powerful forces in shaping the future of global cooperation and trade. (Authors: Chloe Maluleke, Iqbal Surve, translated by Wang Cong)
Original: https://www.toutiao.com/article/7532641989855117864/
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