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American Oil Finds New Markets as China-U.S. Trade Rift Grows

  • Destinations for U.S. crude have grown amid trade tensions
  • With no tariff, China also has the option to take U.S. oil
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IEA Sees No Oil-Demand 'Shock' in 'Modest' Cut to Forecast
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U.S. crude is reaching new destinations around the world after Chinese buying slowed amid concern that the growing trade dispute between the countries could result in a tax on American oil.

America shipped 470.2 million barrels to 38 countries from October through March, compared with 359.3 million to 31 nations in the previous six months, according to Census Bureau data compiled by Bloomberg. The volumes increased even as shipments to China sank nearly 80%.