China Takes Second Spot Among U.S. Crude Oil Export Destinations in 2023
The China International Import Expo (CIIE) is currently underway in Shanghai from November 5 to 10, attracting participation from 152 countries, regions, and international organizations. Notable guests of honor include France, Malaysia, Nicaragua, Saudi Arabia, Tanzania, and Uzbekistan.
According to data from the U.S. Energy Information Administration, China secured the second position among U.S. crude oil export destinations in 2023. The average daily crude oil export from the U.S. to China reached 452,000 barrels, more than doubling the import volume compared to 2022. This robust export figure underscores the strong energy trade ties between the two nations.
However, data released by the General Administration of Customs of China reveals that despite the high crude oil import volume from the U.S., China ranked tenth in its list of imported crude oil sources in 2023. The top three import sources were Russia, Saudi Arabia, and Iraq, indicating a diversified import portfolio.
In a recent interview, a CGTN Stringer spoke with residents of New York to gauge public perception of the U.S.-China trade relationship. When asked about China's rank among U.S. crude oil export destinations, American interviewees also discussed the popularity of American products among Chinese consumers and their expectations for future trade cooperation. One participant expressed hope for enhanced collaboration in technology patents to foster mutual innovation and talent exchange. Another interviewee advocated for the removal of tariff barriers, believing it would benefit both American and Chinese citizens.
As the CIIE continues, the event serves as a platform for reinforcing trade relations and exploring new avenues for cooperation between China and its global partners.
Reference(s):
What rank did China hold among U.S. crude oil export destinations?
cgtn.com
