China’s second largest consumer of oil, China, has severely halted the supply of crude oil from the United States, Reuters reported.
The United States exported 334,880 barrels of oil to China in August, making the Asian country the largest buyers of US oil after Canada.
The interruption of Chinese imports of oil from the United States comes at a time of tougher trade relations between the two countries. Beijing’s decision to disable the entry of US oil in the markets came as a “thunderbolt”, since “black gold” has not been listed so far in any list of goods that hit the new US customs.
China purchases most oil from Russia (665,000 barrels and pays them in yuan), then from Saudi Arabia and Iran.
It is uncertain where China will now purchase the oil it has ever received from the United States and how this will affect the tensions in the commercial war that just did not burst.