Exclusive | China a ‘very important customer’, says Saudi Arabia, as global oil supply worries grow
- Saudi economic minister Faisal al-Ibrahim says the Gulf state is committed to being a reliable energy supplier for China
- The two countries are exploring opportunities to collaborate in areas such as infrastructure, logistics and manufacturing
Saudi Arabia is committed to supplying crude oil to China and interested in collaborating with the world’s No 2 economy on issues ranging from climate change to curbing inflation, says the Gulf state’s economic minister.
China, which relies on imports for 70 per cent of its requirements, is trying every means possible to keep its massive industrial system humming and its slowing economy on track.
“China is a very important customer. We understand that there have been changes recently in the energy markets, but we continue to be committed to being a reliable energy supplier to the world, including China,” Ibrahim said in an interview with the South China Morning Post.
“We value this relationship very well.”
China watched nervously as benchmark Brent crude prices jumped above US$139 per barrel in early March, not long after Russian troops crossed the border into Ukraine.
