China buys more than 25% of the oil that Saudi Arabia exports. Also read: UK floats Johnson visit to Saudi Arabia as Russia sanctions biteIt would be a profound shift for Saudi Arabia to price even some of its roughly 6.2 million barrels a day of crude exports in anything other than dollars. On Monday, the WSJ reported that Saudi Arabia has invited Chinese President Xi Jinping to visit the kingdom in a trip that could happen as soon as May. The visit could help the kingdom deepen its ties with Beijing at a time of strained relations with Washington. "It is not just 'They buy oil from us and we buy weapons from them'."

Source: The Express Tribune March 17, 2022 00:59 UTC