Saudi

China Calls For Oil Trade In Yuan Currency At Gulf Summit

Chinese president, Xi Jinping, is on a 3-day visit to the Middle East which is the first visit since 2016. During Xi’s visit, he called upon its Arab friends that China seeks to purchase oil and gas in yuan, a move that would help Beijing’s goal of internationalizing its currency and decrease the influence of the U.S. dollar on global trade. 

Biden Warns Saudi Kingdom Of Consequences After Oil Cuts

US President, Joe Biden visited the kingdom 2 months ago to talk about the increase in oil production. Saudi Arabia and the oil Cartel OPEC cut down the oil production despite Joe Biden’s insistence to increase the production to decrease oil.