As Trump Seeks Pricier Oil, China Saves $250 Million Daily
- China’s consumers, trade balance, currency reserves to benefit
- As top producer, U.S. grapples with hit to industry, debt load
Photographer: Dhiraj Singh/Bloomberg
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As the U.S. finds itself in the unfamiliar position of lobbying for higher oil prices, China’s enjoying what amounts to a major rebate from crude’s crash just as it tries to recover from the coronavirus.