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Acta Geoscientica Sinica ; 44(2):387-394, 2023.
Article in Chinese | Scopus | ID: covidwho-20237419

ABSTRACT

A new pattern of oil trade has emerged under the influence of geopolitics and the COVID-19 pandemic. To explore China's oil security in these changed times, this study takes the new pattern of global oil trade as the background and adopts the oil trade models of Russia, India, Saudi Arabia, and China itself. Since Saudi Arabia's oil trade with China and India has been safe and stable for long, this study uses evolutionary game theory to make a quantitative analysis of the energy competition between China and India and the energy cooperation between China and Russia. The research results reveal the following: 1) The continued increase in India's Russian oil imports will pose a threat to China's oil security. When India's oil imports from Russia reach 16.5%, it will change the oil trade structure of the four countries and become a crucial threat to China and 2) Russia's willingness to export has a direct impact on the results. As Russia's willingness to export declines, it will affect the results and pose a threat to China's oil security. This study is of great significance as it provides meaningful insights to ensure China's oil security in the post pandemic era with key changes in the world's oil trade pattern. © 2023 Science Press. All rights reserved.

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