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China's Xi calls for oil trade in yuan at Gulf summit

STORY: Xi was speaking in Saudi Arabia where Crown Prince Mohammed bin Salman hosted two "milestone" Arab summits with the Chinese leader which showcased the powerful prince's regional heft as he courts partnerships beyond close historic ties with the West.

Xi said Beijing would continue to import large quantities of oil from Gulf Arab countries and expand imports of liquefied natural gas, adding that their countries were natural partners who would cooperate further in upstream oil and gas development.

China would also "make full use of the Shanghai Petroleum and National Gas Exchange as a platform to carry out yuan settlement of oil and gas trade," he said.

Beijing has been lobbying for use of its yuan currency in trade instead of the U.S. dollar.

Top oil exporter Saudi Arabia and economic giant China both sent strong messages during Xi's visit at a time when Riyadh's relationship with Washington has been tested over human rights, energy policy and Russia.