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Middle East Oil Benefits As China Buys Less African Crude

Middle East Oil Benefits As China Buys Less African Crude

China has long been building inroads into Africa, while the U.S. backs down from the region, leaving a gaping hole in the West’s influence over the “final frontier”. Now, however, we’re seeing all that soft power and oil-backed loans fizzle out as various think tanks note that China is increasingly choosing Arab oil over African crude.  Back in 2002, at the end of Angola’s 27-year civil war, the central African country pioneered the so-called “Angola model” wherein it received oil-backed loans from…

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