Reuters/RIA Novosti Russia doubled its capacity of pipeline exports to China recently. This is at the expense of its exports to Europe. Russia's move is causing big shifts in the oil industry for the moment. Since the start of 2018, Russia’s pipeline crude oil exports to China have been growing, while its seaborne shipments to Europe have been falling. At the beginning of this year, Russia doubled the capacity of pipeline exports to China, where it has been the top oil supplier for more than a year after overtaking OPEC’s top exporter and de facto leader Saudi Arabia last year.See the rest of the story at Business InsiderNOW WATCH: Why you should never release your pet goldfish into the wildSee Also:Here's what has to happen in order for there to be electric planesTesla shareholders could oust Elon Musk as chairmanUS oil exports are only going higher from hereSEE ALSO: Fed holds interest rates steady, says inflation is close to its target
China Is Replacing Europe As Russia's No. 1 Oil Customer
Feedburner, Business Insider
Wed, 05/02/2018 - 5:59pm
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