US oil exports

[harrybarbon]

Does anyone know if US oil, out of US reserves, has recently and maybe continuing being exported to China?

[Joey Mack]

"Among Asian buyers, China is leading the way, after its oil refiners rushed to buy ultra-cheap spot cargoes in April, taking advantage of the deep discounts at which many crude grades were being offered to China with non-existent demand elsewhere. 

China is expected to import around 1.1 million bpd of U.S. crude oil in July, according to Refinitiv estimates. This would be more than double the previous record of Chinese imports from the U.S. of 466,000 bpd in June 2018, just before the two biggest economies started the trade war.

The high imports of U.S. crude oil in Asia are likely to continue in August until all cheap cargoes arrive, but after that, nominations seem to have dropped off, as oil prices rose.

Despite the expected record imports of U.S. crude in July, China is nowhere near achieving its target for energy purchases from the United States under the Phase 1 trade deal, and with oil prices double compared to April and demand still weak in Asia, the Chinese buying spree – including of U.S. oil – may be coming to an end."

By Tsvetana Paraskova for Oilprice.com........   

 

I tried to read more, but the page is so big that my laptop would stop turning long enough for me to read the whole story..  (bpd) is Barrels per day...   Jojo

Edited July 16, 2022 by Joey Mack
More content needed

[mowerman]

Oh thanks for your input Bubba …. Bob

[harrybarbon]

Thanks Joey, that seems to be the facts, USA has a trade deal to sell USA oil to China. I wonder when that Phase 1 trade deal was agreed and by whom?

Maybe that is part of the reason for high fuel prices in USA?

Mid 1990's our gas companies signed a deal to sell natural gas at Aus 2 cents a litre for something like 25 or more years, with little if no allowance for price increases or if there are they would be minimal. China is laughing all the way to ... I wonder if China has a cheap deal to buy USA oil? 

[MACKS]

The fact is we’re pulling oil out of our reserve’s to ease the price here but still shipping millions of barrels to China,right now our reserves are getting dangerously low and how will we replace it,or is that part of this misguided administrations plan..

[mowerman]

Well most of know China has got Biden in thier pocket and they have admitted how easy Americas politicians can be bought… how embarrassing is that????? … but it does answer a lot of questions… so …. Oh ya both China and our own politicians are getting very rich off all of us and they don’t care…,, Bob

[mowerman]

We are never going to run out of oil… it  keeps growing like grass and hair … but of course they think we’re all stupid….: bob

[BOBWhite]

19 minutes ago, mowerman said:

We are never going to run out of oil… it  keeps growing like grass and hair … but of course they think we’re all stupid….: bob

Who's really the stupid ones here? We can make oil from natural gas and gasoline from coal. I mean its almost never stated how the Nazi's got there gasoline for there airplanes, the answer is coal!

If we have enough to burn underneath a town for 70 years than there's no reason for us not to be refining into gasoline if crude oil is sooo hard to find. 

[Dirtymilkman]

On 7/17/2022 at 12:54 PM, BOBWhite said:

Who's really the stupid ones here? We can make oil from natural gas and gasoline from coal. I mean its almost never stated how the Nazi's got there gasoline for there airplanes, the answer is coal!

If we have enough to burn underneath a town for 70 years than there's no reason for us not to be refining into gasoline if crude oil is sooo hard to find. 

The "environmentalists" took care of this for us. To much sulfur in the coal made fuel, and to expensive to remove. We have more coal than anything, but I guess we'll just sit on it.