Trade war spills over
US-China tensions likely to prompt shift in crude, LNG flows
The escalating trade conflict between Donald Trump's US Administration and China overflowed into energy markets in August, as China announced that it's prepared to impose tariffs of up to 25% on US energy exports. Analysts and industry officials believe the tariffs, if imposed, could have significant longer-term effects on the US oil and liquefied natural gas industries. Since the US renewed large-scale exports of crude oil in 2015 and LNG from the Lower 48 States in 2016, China has emerged as a significant importer of both. The US Energy Information Administration (EIA) says that, in 2017, China took in 224,000 barrels a day, or 20% of US oil exports. By May of this year US exports to China
Also in this section
18 April 2024
The Norwegian energy company is concentrating its efforts on specific regions and assets that meet strict cost and carbon criteria
17 April 2024
Uzbekistan and Kazakhstan provide opportunities after Europe turns it back, while also offering another gateway to China
16 April 2024
Commentators need to shake off the myths of the past, with rising oil prices a boon for US economy
15 April 2024
Though hampered by methane concerns, US LNG has a crucial role to play for European and Asian energy security, US economic needs and the energy transition drive