Chinese purchases of American oil are down -90% Y/Y, while Chinese purchases of Canadian oil are up +700% Y/Y.

Chinese purchases of American oil are down -90% Y/Y, while Chinese purchases of Canadian oil are up +700% Y/Y.

That’s a $20B annual loss for the United States at $60/barrel. pic.twitter.com/Q4N1jzHWCF

— Spencer Hakimian (@SpencerHakimian) April 16, 2025

https://www.bloomberg.com/news/articles/2025-04-16/china-pivots-from-us-to-canada-for-more-oil-as-trade-war-worsens?embedded-checkout=true