Russian shipments surged nearly a quarter over 2015 to about 1.05 million barrels per day (bpd), the data showed, with Saudi Arabia coming in a close second with 1.02 million bpd, up 0.9 percent in 2016 versus the previous year. China is the world’s second-largest oil buyer and the fastest-growing major importer. Source Reuters
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US and South Korean troops have begun annual military drills amid heated warnings by the North that the exercises will worsen tensions in the region. China and Russia last week urged the US to suspend the drills in exchange for North Korea suspending its missile and nuclear tests. Source: Al Jazeera
China’s Foreign Ministry on Wednesday once again asked India to withdraw all its troops and equipment from Chinese territory, as the border standoff in the Dong Lang (Doklam) area approaches its second month. Source: People’s Daily
Top Turkish and Russian economy officials are set to discuss key economic, political, technical and trade issues at an international fair in the Aegean city of İzmir, which will start on Aug. 18 and last until Aug. 27. Source: Daily News