More than thousands of Banks already use RMB as the payment currency

Energy website Fuelfix.com reported that as China’s oil market share battle intensified, Russia has more than Saudi Arabia as China’s largest supplier of crude oil.

According to China’s general administration of customs Tuesday email, China imported 3.92 million metric tons of oil from Russia in May, the equivalent of 927000 barrels a day, a record high, increased by 20% month-on-month, the amount of oil imports from Saudi Arabia fell 42% to 3.05 million tonnes in April.

As domestic shale oil production surge has reduced the world’s largest oil consumer – dependence on overseas oil supplies in the United States, China becomes the important markets of the world’s oil exporters. In 2015, the international energy agency forecast this month, China’s oil demand will account for more than 11% of global oil demand.

Analysis of oil and gas Energy Aspects of chief oil market analyst amri tower – sen said in an E-mail: “because of the Middle East oil have to with oil from other parts of the country for the market, and has become the darling of the petroleum exporting countries in Asia. Russia is more and more attention to its east, Russia’s largest oil producer, Rosneft agreed by all kinds of trade with China is likely to allow more Russian oil flowing into China.”