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      Home >> News

      China takes super advantage of declining oil prices

      The current situation with oil prices has become a big problem for the majority of members of the oil market. The decline in prices jeopardized even shale projects in the United States.  Venezuelan officials said that the nation's economy was in danger, the Russian economy suffers from low oil prices as well. Yet, one player on the market is most likely happy.

      Many believe that prices have fallen due to the actions of Saudi Arabia. The countries that produce fuel face certain problems. However, China took advantage of the situation. The number of supertankers bound for Chinese ports has grown to a record-high level in nine months. The number of largest crude-transporting vessels in the industry reached 80. On average, each of these tankers carries two million barrels, which means that in the near future, China will receive 160 million barrels. Most likely, the process will continue.