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.
It reportedly imported "zero" barrels of crude oil from the U.S. in August.
Kim Hyo-sun tells us more.
U.S. oil exports to China plunged to zero in August,... amid the continued trade war between the world's two largest economies.
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.
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.
China,... the world's largest oil importer,... was the largest buyer of U.S. crude oil in the first half of 2018.
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.
Within the Chinese market,... crude oil imported from Russia and Saudi Arabia is replacing that from the U.S.
Kim Hyo-sun, Arirang News.