U.S. Oil Sellers May Look to India as China Tariff War Escalates
- China among the top buyers of American crude, but may cut back
- India may need supply amid sanctions on oil imports from Iran
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American oil producers may find a new friend in India as they brace for a trade war with China that could curb U.S. shipments.
Refiners in China were the top buyers of American crude oil in May, and have been regular importers since the U.S. revived domestic output and exports in recent years. But sales may slow amid a growing trade war between Beijing and the Trump Administration.