Due to the trade war with the US, China will buy oil from Canada

Because of the trade war with the United States, China intends to buy oil from Canada. This is reported by Bloomberg.

According to the publication, China has already reduced purchases of American oil by about 90% and at the same time increased imports of Canadian oil to record levels.

As Jiang Wenran, president of the Canadian-Chinese Energy Forum, said in an interview with the agency, due to the heated US-Chinese trade confrontation, the likelihood that Chinese oil refineries will increase oil purchases from the United States is almost zero.

"They will not rely only on supplies from Russia or the countries of the Middle East. Any deliveries from Canada will be perceived as good news," he said.

According to Bloomberg, China has reduced oil imports from the United States from 29 million to 3 million barrels. However, deliveries from Canada reached a record 7.3 million barrels in March and may grow even more in April. At the same time, the agency writes, Canada offers relatively cheap oil with a high sulfur content, suitable for modern Chinese refineries. At the same time, similar varieties from Iraq and other Middle Eastern countries remain more expensive, which makes Canadian supplies more attractive to China.