Utopia Talk - Politics

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Utopia Talk / Politics / MCGA

williamthebastard
Member Sun Apr 27 06:29:33
Mechanical Engineering World

China is now importing record amounts of Canadian oil after slashing US oil purchases by 90%.

China has significantly shifted its crude oil imports from the U.S. to Canada amid escalating trade tensions, particularly following the U.S.-China trade war intensified by U.S.

President Donald Trump’s tariff policies. Chinese refiners have cut U.S. oil imports by about 90%, dropping from a peak of 29 million barrels in June to just 3 million barrels per month.

Meanwhile, imports of Canadian crude have surged, reaching a record 7.3 million barrels in March, facilitated by the Trans Mountain pipeline expansion (TMX) that began operating in May, connecting Alberta’s oilsands to British Columbia’s Pacific coast.

This pipeline has enabled China and other East Asian importers to access Canada’s vast crude reserves, which are relatively cheap and suitable for China’s advanced refineries that process dense, high-sulfur crude.

The shift reflects China’s strategic move to diversify its oil sources away from the U.S., Russia, and the Middle East, with Canadian oil becoming an increasingly attractive option.

murder
Member Sun Apr 27 06:59:57

Well according to the Trump reasoning, Canada creating economic ties with China for key resources will make the US less likely to invade.

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williamthebastard
Member Mon Apr 28 09:17:14
"About this report
The IEA Oil Market Report (OMR) is one of the world's most authoritative and timely sources of data, forecasts and analysis on the global oil market

Demand growth for 2025 has been revised down by 300 kb/d since last month’s Report to 730 kb/d, as escalating trade tensions have negatively impacted the economic outlook. Growth is expected to slow further in 2026, to 690 kb/d.

The downgrade comes on the heels of robust oil consumption in 1Q25, up by 1.2 mb/d y-o-y – its strongest rate since 2023.
World oil supply rose by 590 kb/d to 103.6 mb/d in March, up 910 kb/d y-o-y"

When the market for the worlds most important energy resource is increasing "robustly", but your sales are dropping because nobody wants to deal with you anymore, your reputation is in tatters

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williamthebastard Member	Sun Apr 27 06:29:33 Mechanical Engineering World China is now importing record amounts of Canadian oil after slashing US oil purchases by 90%. China has significantly shifted its crude oil imports from the U.S. to Canada amid escalating trade tensions, particularly following the U.S.-China trade war intensified by U.S. President Donald Trump’s tariff policies. Chinese refiners have cut U.S. oil imports by about 90%, dropping from a peak of 29 million barrels in June to just 3 million barrels per month. Meanwhile, imports of Canadian crude have surged, reaching a record 7.3 million barrels in March, facilitated by the Trans Mountain pipeline expansion (TMX) that began operating in May, connecting Alberta’s oilsands to British Columbia’s Pacific coast. This pipeline has enabled China and other East Asian importers to access Canada’s vast crude reserves, which are relatively cheap and suitable for China’s advanced refineries that process dense, high-sulfur crude. The shift reflects China’s strategic move to diversify its oil sources away from the U.S., Russia, and the Middle East, with Canadian oil becoming an increasingly attractive option.
murder Member	Sun Apr 27 06:59:57 Well according to the Trump reasoning, Canada creating economic ties with China for key resources will make the US less likely to invade. -
williamthebastard Member	Mon Apr 28 09:17:14 "About this report The IEA Oil Market Report (OMR) is one of the world's most authoritative and timely sources of data, forecasts and analysis on the global oil market Demand growth for 2025 has been revised down by 300 kb/d since last month’s Report to 730 kb/d, as escalating trade tensions have negatively impacted the economic outlook. Growth is expected to slow further in 2026, to 690 kb/d. The downgrade comes on the heels of robust oil consumption in 1Q25, up by 1.2 mb/d y-o-y – its strongest rate since 2023. World oil supply rose by 590 kb/d to 103.6 mb/d in March, up 910 kb/d y-o-y" When the market for the worlds most important energy resource is increasing "robustly", but your sales are dropping because nobody wants to deal with you anymore, your reputation is in tatters
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