For US oil, the impasse with China means more exports to Asia
Being shut out of the world’s biggest crude importer has seen the volume of US crude in Asia in the first five months of the year up 69% from the same period of 2018
06 June 2019 - 11:35
Launceston — US crude producers may have lost the fast-growing China market because of President Donald Trump’s trade dispute, but they have more than compensated by making inroads into the rest of top oil-consuming region, Asia.
While crude is currently excluded from the tariffs Beijing has imposed on US goods, Chinese refiners have steered clear of US oil, with only two cargoes totaling 3.87-million barrels arriving in the first five months of 2019, according to vessel-tracking and port data compiled by Refinitiv...
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