Alaska’s Pricey Crude Is Pushed Out of China by Russian Oil
- China favoring cheaper Russian oil being sold at a discount
- Alaska’s shipments to China have nearly dried up this year
Tugboats move an oil tanker at Qingdao port in Qingdao, China.
Photographer: AFP/Getty Images
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China’s passion for Alaskan oil appears to be over as the country turns to Russia.
Surging Chinese energy demand amid Covid lockdowns on the US West Coast prompted Alaskan oil exporters to ship more crude than any time in two-decades, and nearly all of it went to the East Asian country. So far this year, shipments have almost dried up entirely. Just a single cargo sailed aboard the Seaways Sabine to China in March, according to Vortexa Data.