This year, China effectively took the initiative from OPEC and

This year, China effectively took the initiative from OPEC and, without joining any cartels, managed to stabilize the global oil market by reducing oil imports by 5.5 million barrels per day,

Coverage (2 sources)

• Sichin: China has taken the initiative from OPEC on the global oil market — Ведомости
• Schein: China has taken the initiative from OPEC in stabilizing the oil market — Коммерсантъ

Key entities

• China
• OPEC
• Rosneft
• Igor Sechin

More on Igor Sechin

• Putin gifted China $27 billion through oil discounts. Having become…
• Main points from Igor Sechin's statements at the Russia-China Energy…
• Putin: Russia ranks first in oil and gas deliveries to China