Now, American oil exporters, the "democratic" public and the media are sounding the alarm. In the third quarter of 2018, US crude oil supplies to China fell catastrophically. They, in the literal sense of the word, were the victims of a trade war unleashed by the Donald Trump administration against China and other countries of the world. Although in the first half of the year, it was China that was the largest importer.
The Wall Street Journal was not too lazy to even question traders and calculate the number of tankers. And it turned out that in August, China did not buy oil in the United States at all, and in September it bought only 31 thousand bpd.
For comparison, in the month of June, China was “packed” with a record 510,4 thousand b / s, and on average for the first six months of 2018, 350 thousand b / s. And this is officially confirmed by the statistics of the US Department of Energy. Now, oil exporters from the United States are in a light shock and this is putting it mildly. After all, there are not so many large buyers on the planet.
In this case, China is easier. He quite easily replaced oil supplies from the United States, reorienting purchases to Russia and Saudi Arabia, which they no doubt rejoiced at. For example, in August, Riyadh increased oil exports to the Celestial Empire by 258 thousand bpd. In turn, Russia, in the same month, sold almost 200 thousand b / s more oil to China. And if this goes on, then Trump will erect a monument during his lifetime.
It should be noted that until 2015, the United States had a 40-year ban (embargo) on oil exports from the country. This is Barack Obama, before vacating the president’s chair, heeded the arguments of American oilmen. But when Donald Trump was placed in the Oval Office, he began to struggle with the legacy of the previous administration on all fronts. And now the American oil industry has something to lose. For example, if in December 2015 they exported 500 thousand bpd, then in September 2018 it was already 2,6 million bpd.
But in September, US oil exports were still moving by inertia, and then it will be more difficult. After all, it reduces oil purchases from the USA and India. But Georgia cannot be replaced. And this will certainly affect the trade balance, the budget, and the US government debt. But that is not all.
So far, the White House is pondering over the unpleasant situation in the oil market and the looming “prospects”. The vindictive Beijing has opened a second front and is about to strike another sensitive spot in Washington. Export of reduced natural gas (LNG) from the USA. It will be even more painful. Since very expensive plants are being built in the United States, they will not be able to “eat” everything that they produce in Japan and South Korea, and China and the European Union no longer need this LNG.