Iraq Takes Second Spot Among China Oil Sellers as Russia Cedes
U.S. Oil Is a Bargain Compared to Europe
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Iraq overtook Angola and Russia to become China’s second-largest oil supplier in January as imports from the Middle Eastern country rose to a record.
Inbound shipments from Iraq jumped 44 percent to 3.4 million metric tons, or 803,000 barrels a day, data from the Beijing-based General Administration of Customs showed Friday. That’s the highest in records going back to May 2008, and made the nation the largest supplier after Saudi Arabia, according to data compiled by Bloomberg.