Chinese oil imports from Iraq rose around 50% in 2013 while imports from Saudi Arabia, China’s largest overseas oil supplier, were flat from 2012, the first time in at least a decade that Chinese imports from the kingdom haven’t grown on an annual basis, The Wall Street Journal reported. Imports from Saudi Arabia, Angola and Russia over the past year have shrunk as their crude oil made up 42% of China’s 2013 imports, compared with 44% in 2012. China is trying to be less dependent on top oil suppliers such as Saudi Arabia as greater availability of global oil helps China diversify its sources of foreign crude oil.
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