China May Resume U.S. Oil Buying Spree After Trade Deal
- China has cut back U.S. crude purchases since mid-2018
- Trade deal includes additional $52.4 billion of energy exports
Photographer: Brittany Sowacke/Bloomberg
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American crude oil shipments to China are poised to pick up again after the two economic superpowers signed a landmark trade deal.
Under the terms of the agreement, U.S. energy exports to China will jump over the next two years, with the promise of an additional $18.5 billion worth of additional purchases in 2020 and $33.9 billion in 2021.