Commodities
China Pivots From US to Canada for More Oil as Trade War Worsens
Storage tanks and trucks at a refinery in Edmonton, Alberta, Canada.
Photographer: Jason Franson/BloombergThis article is for subscribers only.
Chinese refiners are importing record amounts of Canadian crude after slashing purchases of US oil by roughly 90% amid escalating trade tensions.
A pipeline expansion in Western Canada that opened less than a year ago has presented China and other East Asian oil importers with expanded access to the vast crude reserves in Alberta’s oilsands region.