China is trimming dependence from some top oil suppliers, such as Saudi Arabia, as greater availability of global oil helps Beijing diversify its sources of foreign crude. The changing makeup of China’s foreign oil suppliers is one example of how weaker demand from buyers in the U.S., Europe and Japan is reshaping global trade flows. Beijing hopes the gradual shift in oil shipments can help it reduce dependence on a key group of suppliers—though new shipments in many cases are coming from politically risky areas. Chinese customs data released Tuesday showed China’s crude imports declined or stagnated from some of its largest oil suppliers in 2013, including Saudi Arabia, Kuwait and Venezuela. Meanwhile, China has increasingly tapped supplies in Iraq, parts of western Africa and elsewhere. Imports from Saudi Arabia, China’s largest overseas supplier, were flat in 2013 from a year earlier, the first time in at least a […]