China’s private oil refinery switches from Russian to West African oil.

Axar.az reports that, citing Bloomberg, a private Chinese refinery Landbridge Petrochemical Co. has bought 2 million barrels for delivery. Previously, such buyers favored Russia's ESPO crude oil and Iranian crude due to shorter delivery routes and lower prices.

China's shift to African oil is noted as potentially linked to U.S. policy toward Iran under the Trump administration, with experts suggesting that Iran could face harsher restrictions under Trump.

"As for Russia, the situation isn’t critical yet. However, China’s shift away from Russian oil could be disastrous for Moscow, whose budget heavily depends on oil revenue," the agency reported.

It’s also noted that Trump’s recent election victory has contributed to a drop in oil prices.