Asia could account for 90% of Middle East oil exports in future: IEA

The International Energy Agency’s (IEA) said that it expects Asia, and in particular China, to conduct more business with the Middle East in the years ahead and the region and China to invest in energy-related assets overseas. Commenting on this, SMU International Trading Centre Academic Director Annie Koh said: "The Chinese are really active, they have gone upstream, they realise that they need to invest in technology and owning the oil assets… China has humongous foreign exchange reserves, earned from being an export-led economy.”