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U.S. Oil Exports to China Dropped to Zero in August

Well-known Chinese news site Sina recently reported that, according to the U.S. Census Bureau, the level of U.S. oil exports to China dropped to zero in August. Also in August, U.S. oil exports dropped significantly overall. China used to be the largest U.S. oil buyer. Starting this year, China’s position dropped to number two, after Canada. In August, Canada remained the top buyer, South Korea and Taiwan ranked numbers two and three respectively. According to Reuters, global oil ship tracking systems showed no oil ships heading from the U.S. to China. The oil refiners in China are holding on to their orders in the hope of seeing more clarity on the US-China trade war. The U.S. Census Bureau usually provides oil export data a few weeks earlier than the U.S. Energy Information Administration (EIA). EIA typically releases its official data based on the Census Bureau numbers at the end of the month.

Source: Sina, October 6, 2018