According to the latest Chinese customs data, in recent years, China's import of oil from Saudi Arabia, Libya and other Opec countries have fallen sharply, while oil increased imports from Russia and Brazil.
China has a big influence in the world oil market, Opec countries pay special attention to oil exports to China. For Opec members, China's oil buyers is one of the important goals they want to fight for.
Opec is still the important suppliers, more than half of China's oil imports from Opec. Past China's demand for oil is mainly on Opec oil imports to satisfy, but supply interruption phenomenon more and more frequently, make it realize that it is necessary to diversify sources of supply, and establish the oil reserves.
China from 2010 to 2015 in October, according to the monthly import data diversity program has been effective. Although the dependence on imported oil continues to rise, but Opec in October in China's oil imports as a share of has fallen to 55%, and the peak in mid - 2012 had reached nearly 70%.
Despite Iraq's oil exports to China increased, but Saudi Arabia and Iran in China's oil imports as a share of the past five years continued to decline, while Libya is no longer supplying oil to China, other import sources including Russia, Brazil, Colombia and Oman.
The U.S. shale gas boom lower its dependence on the Middle East, west African and Latin American oil, encourage the region's oil exporters to look for other buyers, falling demand in Europe also accelerate them to China and other Asian markets.
, led by Saudi Arabia, Opec's making the export above short-term income strategy for the long term, and look for more Asian buyers is part of the strategy, the goal is to ensure that the market will not fall further.
But in today's supply surplus oil market, China has more options. Sanctions against Iran if cancelled, would make exports from the country's new competition.