Saudi Still China's Top Oil Supplier

The video discusses Saudi Arabia's decreasing market share in China due to increased global competition, particularly from Russia. It highlights Saudi Arabia's efforts to maintain its exports by increasing production and making field enhancements. The video also covers the impact of China's teapot refineries on the market and Saudi Arabia's adaptation strategies, including spot sales, to remain competitive.

What strategies is Saudi Arabia employing to adapt to the changing market conditions in China?

What role do China's smaller refineries play in the current crude oil market?