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Saudi Arabia, China in Yuan-Based Oil Sales Talks – WSJ

Talks between Riyadh and Beijing have accelerated as Saudi unhappiness grows with Washington over its defence commitments and Yemen

Saudi China oil sales
China is Saudi Arabia's biggest oil customer. Photo: Reuters


Saudi Arabia is reportedly in talks with Beijing about pricing some of its oil sales to China in yuan, according to the Wall Street Journal, in a move that observers say could impact the dollar’s supremacy in the global petroleum market.

The ongoing talks with China – which buys more than 25% of the oil that Saudi Arabia exports – over yuan-priced oil contracts have taken on new impetus this year with the Saudis said to be unhappy with the US’s defence strategy in the region. Full story: The Wall Street Journal


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Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.


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