Chinese tariffs on U.S. crude oil are expected to reduce demand for American crude exports, potentially impacting US oil production.
The 10% Chinese tariff on imports of U.S. crude oil could push American crude exports lower in 2025 from the record highs seen in the past two years, analysts tell Reuters. On the day on which the U.S. blanket tariff of 10% on all Chinese imports took effect, China responded with several measured retaliatory tariffs, including a 15% levy on LNG and 10% on crude oil imports from the United States. U.S.
Per Kpler’s estimates, American crude exports rose only marginally last year from the previous year, and were up by just 24,000 bpd to average 3.8 million bpd in 2024. U.S. crude oil exports could be peaking and “China's retaliatory tariffs could only further accelerate that,” Kpler analyst Matt Smith told Reuters. American seaborne exports averaged 3.9 million bpd in 2024, down from 4 million bpd in 2023, per data from Vortexa.
China Tariffs Exports Trade War Demand Production Imports Refineries Market Impact
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