In September, China plans to purchase a record 37 million barrels of oil from the USA. This is four times more than in recent months, supplied by the largest supplier – Saudi Arabia.
According to eadaily, experts believe that either China intends to fulfill the terms of the trade deal, or the Chinese are going to quickly fill the new oil storage facility, which will be commissioned in autumn.
“According to Bloomberg, about 19 tankers booked loading of American oil with delivery to China in September. All together they can deliver to the Celestial Empire 37 million barrels. For example, in June the largest exporter of raw materials to the country was Saudi Arabia, which supplied 8.8 million barrels. China itself imports just over 50 million barrels per month”, – the report says.
According to the research director at Morningstar Inc. Sandy Fielden, the increase in oil purchases may be a positive signal, but while new negotiations on the trade deal are postponed, it is difficult to say how it is treated in the United States itself.