Mint published on 8 November 2022 an article titled "Asia May Witness Sharp Drop in Crude Inflow from Africa by End of 2022: S&P Global" by Swati Luthra.
China's crude imports from Africa fell 22.6 percent from the January-September 2021 period compared to the corresponding nine months in 2022. Thus, Africa's market share in the nine month period fell to 10.7 percent of total imports from 13.2 percent a year earlier.
Fifteen years ago, Africa had 33 percent of China's market share. China has been reducing that percentage in recent years and most dramatically so as it purchases more attractively priced crude from Russia, Iran, and Venezuela. Angola is the only African country that still holds a significant Chinese market share and it dropped substantially in the recent nine month period.
