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China imports zero crude oil from U.S. due to continued trade tensions: WSJ

2018-10-16 3 Dailymotion

China, Washington's largest importer of crude oil up until July,... has decided to shift to other importers due to continued trade tensions between the two superpowers.<br />It reportedly imported "zero" barrels of crude oil from the U.S. in August. <br />Kim Hyo-sun tells us more. <br />U.S. oil exports to China plunged to zero in August,... amid the continued trade war between the world's two largest economies. <br />The Wall Street Journal reports Washington exported 30-thousand barrels of oil to Beijing in September,... a significant drop from the monthly average of over 350-thousand barrels in the first half of the year. <br />Although China has imposed tariffs on only U.S. liquefied natural gas and not crude oil,... experts say this is the result of the escalating trade tensions between the two countries. <br />China,... the world's largest oil importer,... was the largest buyer of U.S. crude oil in the first half of 2018.<br />Yet, it also decided to halt imports of liquefied petroleum gas, or LPG, from the U.S.,... prompting Washington to seek other markets including India, Hong Kong and Denmark. <br />Within the Chinese market,... crude oil imported from Russia and Saudi Arabia is replacing that from the U.S. <br />Kim Hyo-sun, Arirang News. <br />

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