Chinese Refiners Aren’t Buying U.S. Crude

Chinese refiners are refusing to buy U.S. crude. The reason: the high price.

Trade talks have led to a warming between the two countries of late with a 90 day "truce" in effect. Even still, Chinese refiners are reluctant to buy crude from the United States due to the transportation costs.

With so much oil available from Russia and Iran, China is finding much better pricing from those two countries.

While there does seem to be some progress with trade, the tensions between the two countries is still a factor.

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