U.S. oil exports to China are expected to hit a new high next month

       As China-US economic and trade representatives will hold a call in the near future, China is still increasing its efforts to purchase American products.

　　Following agricultural products such as soybeans and corn, U.S. oil exports to China are expected to hit a new high next month.

　　According to the tentative oil tanker schedule, Chinese crude oil buyers have contracted about 19 oil tankers and plan to ship about 37 million barrels of crude oil to China in September.

　　 If the transaction is successful, U.S. oil exports to China will break the record of 35.2 million barrels in May this year.

　　 Bloomberg data shows that the volume in May is also the highest single-month purchase among all US oil-buying countries.

　　Increase purchases of US$200 billion worth of American goods and services, of which US$52 billion are energy products.

　　 Although China has continuously increased its purchases of American products in recent weeks, so far, the purchase volume has fallen far short of the increase planned in the trade agreement.

　　 China purchased approximately 4.2 million barrels of oil from the United States every month from May to June. In the first half of the year, China’s imports from the United States only reached 23% of the total target for 2020 under the agreement.

However, Kudlow, the chief economic adviser of the U.S. White House, told the media at the White House on Thursday (20th) that U.S. Trade Representative Lighthizer expressed satisfaction with the progress of the agreement several times and pointed out that even under the new crown pneumonia epidemic, China still bought A lot of American goods.