Chinese oil importers avoid US crude as it may be subject to tariffs later
Singapore/Beijing — Chinese oil importers are shying away from buying US crude as they fear Beijing’s decision to exclude the commodity from its tariff list in a trade dispute between the world’s biggest economies may only be a temporary measure. Not a single tanker has loaded crude from the US bound for China since the start of August, Thomson Reuters Eikon ship tracking data showed, compared with about 300,000 barrels per day (bpd) in June and July. The US and China have been locked in a tit-for-tat trade spat over the past few months, but crude was dropped from China’s final list of tariffs on $16bn in US goods announced last week. The move underscores the growing importance of the US as a major global oil producer and critical alternative supply source for top importer China. However, would-be buyers in China fret that the commodity could be used as a bargaining chip in future talks with Washington, "Since it takes months to get US crude [to China] … [not buying US shipments] is...
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