China Turns Its Back On U.S. Oil

Although the Chinese government has not yet gone so far in the ever-escalating trade war as to sanction United States oil, imports are drying up anyway as Chinese buyers shy away from U.S. crude. According to U.S. Census Bureau data released last week, for the first time since 2016, China has halted purchases of U.S. crude, importing zero barrels in August. A major blow coming from the second biggest economy in the world–a blow that is sure to have reverberating repercussions and retaliations.

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