China’s 5% tariff on US crude changes little, says Platts
Tom KirkmanIndependent Project Manager
Latest from an oil writer that I pay attention to:
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“China will slap a 5% tariff on U.S. crude oil imports beginning September 1.
… S&P Global Platts says the effect on overall U.S. crude flows to Asia from the Chinese tariffs would be negligible. The biggest buyers of U.S. oil are South Korea, Japan, India, and Taiwan. These countries will continue buying U.S. crude whatever China and the U.S. do to each other because they need crude and have few sources for it. …”