Chinese Oil Importers Shun US Crude Despite Tariff Reversal

[To-Whose-Benefit?]

Reuters
Staff Aug 16, 2018

[excerpt]

https://www.reuters.com/article/us-usa-trade-china-oil/chinese-oil-importers-shun-u-s-crude-despite-tariff-reversal-idUSKBN1L00LD

SINGAPORE/BEIJING (Reuters) - Chinese oil importers are shying away from buying U.S. 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 temporary.

Not a single tanker has loaded crude oil from the United States 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 United States and China have been locked in a tit-for-tat trade spat over the last few months, but crude was dropped from China’s final list of tariffs on $16 billion in U.S. goods announced last week.

[Smokin Joe]

Oil, like money, is fungible. What drain China puts on other sources will only be replaced by our crude.

[Absalom]

Oil, like money, is fungible. What drain China puts on other sources will only be replaced by our crude.

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Insightful and on the economic mark!!!