China buys up Saudi, Russia oil to squeeze Iran

- (GMA 7 Business) - 3 months, 2 weeks ago...

BEIJING/LONDON  - China is scouring the world for alternative oil supplies to replace a fall in its imports from Iran, as it seeks to negotiate lower prices from Tehran, and has been drawing heavily on Saudi Arabia. The world's second-largest oil consumer is also importing more cargoes from West Africa, Russia and Australia to replace reduced supplies from Iran....

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