Evaluating the impact of oil exports from GCC countries on China’s oil security

Ji and Fan investigate the influence of GCC countries’ oil exports on China’s oil security. They build a new indictor system for oil import security and propose an oil import integrated impact index (O3I index) using a two-phase DEA-like model. They find that GCC countries play an increasingly important role in China’s oil import security from 1993 to 2013. Especially, interactive relationships between China and GCC countries, including availability, affordability, and trade intensity, become the decisive factors on China’s oil security. They suggest a tighter bilateral trade ties and mutual investment between GCC countries and China to ensure China’s oil supply security and GCC countries’ export stability.