Research On Russia’s Oil Exports To China

Crude oil is an essential element of a country’s economy and development,therefore,it is also the interest of a country’s foreign policy and domestic policy.Russia is one of the leading countries in terms of energy.It has a large number of cooperative relations and diversified oil and gas trade strategies.A tremendous amount of gas and oil are located in the Russian Far East and eastern Siberia.Therefore Russia urgently needs to find a market to develop the country’s economy.If there is no important consumer in the east,the current economy can’t afford the infrastructure investment.As an important export market,China plays a vital role in the export trade of Russian oil.So,what is the status and what are the factors that affect the Russian oil exports to China?What is the prospect of oil trade cooperation between the two countries?This is very worthy of attention.To this end,this paper combined theoretical analysis and empirical analysis.Through historical data and statistical analysis,it described the current status of Russian oil exports to China,and discussed the major factors and key indicators that affect the oil trade between Russia and China.This article mainly obtained the following conclusions and prospects:(1)Russia and China still have an advanced relationship.All indicators in bilateral trade have shown a significant enthusiasm.The bilateral relations are at their best level in history.Through international cooperation,both countries can achieve their goals.The importance of cooperation in oil trade is valuable for both governments.(2)Regression analysis shows that Russia’s energy intensity,the ratio of energy consumption and production in Russia and China and crude oil prices are the main factors that affected Russia’s crude oil exports.At the same time,in the new era of oil,the United States has begun to rise rapidly as an exporter of crude oil.It makes Russia and other crude oil exporting countries aware that not only oil resources are an advantage,but also the innovative technology is the most competitive in the future oil market.(3)In the future,crude oil trade cooperation will still be the main direction of Russia and China cooperation.The Russian and Chinese governments have carried out a large number of government meetings and projects.This will promote the economic development of both sides,and impact on world economy and geopolitics.In the past two decades,the relationship between China and Russia has developed into a strong strategic partnership.In Russia,China is considered a comprehensive strategic partner.Energy cooperation is the most vital part of the cooperative relationship between China and Russia.