US August crude oil exports fell sharply China's imports cut to zero

[Adam WANG SHANGHAI MEGA]

US August crude oil exports fell sharply China's imports cut to zero
Economic Daily 2018-10-06 11:02:34
According to US August international trade data released by the US Census Bureau on Friday, US crude oil exports in August fell to 1.749 million barrels per day, a significant decrease from July's 2.139 million barrels per day.

In terms of regions, the largest buyer of US crude oil in August was Canada, with imports of 343,000 barrels per day, followed by South Korea and Taiwan, with imports of 267,000 barrels per day and 198,000 barrels per day. US exports of crude oil to India in August were 196,000 barrels per day.

In Europe, the UK remains the largest buyer of US crude oil. In August, US exports of crude oil to the UK were 152,000 barrels per day, and exports to Italian crude oil were 99,000 barrels per day, followed by the Netherlands and Norway, with 76,000 barrels per day and 58,000 barrels per day.

In addition, in August, the United States exported 61,000 barrels per day to UAE crude oil, 50,000 barrels per day to Japanese crude oil, 38,000 barrels per day to Irish crude oil, and 34,000 barrels per day to Colombian crude oil. Crude oil exports were 31,000 barrels per day, exports to Uruguay crude oil were 27,000 barrels per day, exports to Brazilian crude oil were 21,000 barrels per day, exports to Malaysian crude oil were 20,000 barrels per day, and exports to Greek crude oil were 1.9 per cent. 10,000 barrels per day, exports to Thailand for 18,000 barrels per day, 15,000 barrels per day for Bahamas crude oil, 15,000 barrels per day for Dominican crude oil, and 6,000 barrels per day for Spanish crude oil, for Australian crude oil Export 4 thousand barrels / day.

It is worth noting that the US exports of crude oil to China fell to zero in August. Previously, China had been one of the largest buyers of US crude oil. It fell to second place in July this year. After Canada, the export volume was 384,000 barrels per day, which was significantly larger than the export volume of 510,000 barrels per day in June. decline.

Earlier, Reuters reported that Thomson Reuters Eikon's vessel tracking data showed that since August, no tanker has shipped oil from the United States and sailed to China. China's major oil importers also joined forces with Petrochemical to suspend imports of US crude oil earlier in August. Reuters pointed out that due to Sino-US trade frictions, some refiners in China have chosen to wait and see developments and not to place new orders on US oil.

The US Census Bureau’s foreign trade oil data is several weeks ahead of the US Energy Information Administration’s (EIA) US crude oil export data. EIA will publish monthly crude oil data at the end of the month based on data from the US Census Bureau.

 

[Beast]

Iran can easily fill up Chinese order.

Stupid American. Besides Chinese, nobody will import so much oil.

 

[Quibbler]

Iran can easily fill up Chinese order.

Stupid American. Besides Chinese, nobody will import so much oil.

I dont know what you think, but oil is traded almost openly in the market. If china doesnt buy someone else will. The supply matches teh demand thanks to price corrections. And all crudes are benchamarked so in effect you only realigned the supply chain thats all.

eg A buys from B
C buys from D
if B shifts from B to D. D will no longer be able to supply C and C will shift to B. Oil is a highly price mobile commodity with extreme high volumes. This operation by China is in effect a no-op.

 

[Beast]

I dont know what you think, but oil is traded almost openly in the market. If china doesnt buy someone else will. The supply matches teh demand thanks to price corrections. And all crudes are benchamarked so in effect you only realigned the supply chain thats all.

eg A buys from B
C buys from D
if B shifts from B to D. D will no longer be able to supply C and C will shift to B. Oil is a highly price mobile commodity with extreme high volumes. This operation by China is in effect a no-op.

lol.... Not every tom dick harry buyer can replace a big appetite customer. Is every customer consume the same amount of oil like China? From 2017 report, top 2 oil consumers are US and China.

No wonder Indian failed in business and your rupee is failing..

 

[AndrewJin]

lol.... Not every tom dick harry buyer can replace a big appetite customer. Is every customer consume the same amount of oil like China? From 2017 report, top 2 oil consumers are US and China.

No wonder Indian failed in business and your rupee is failing..

But they have PPP, they cannot afford proper cars but can buy tuk tuk

 

[rambro]

US regime is going to coerce others into buying from them or else....

 

[hoangsa74]

lol.... Not every tom dick harry buyer can replace a big appetite customer. Is every customer consume the same amount of oil like China? From 2017 report, top 2 oil consumers are US and China.

No wonder Indian failed in business and your rupee is failing..

but according to Chinese logic, losing $400 billion of trade surplus with a big appetite customer like the U.S is different because they can find someone (like north korea) to replace the U.S market, right?

 

[Beast]

but according to Chinese logic, losing $400 billion of trade surplus with a big appetite customer like the U.S is different because they can find someone (like north korea) to replace the U.S market, right?

LOL.. If American dont buy Chinese product, they will become poorer as they need to spend even more for their necessity. Buying Chinese product is not a choice but already is a must. Look at walmart, if you clear out made in China, basically the whole store is empty with nearly nothing to sell.

Chinese product is good not just on pricing but the most value for money product to buy becos Chinese master the art of mass production with the most efficiency. You will be suprised made in Vietnam or Made in India may cost even more than China but not neccesary better or even worst off quality cos they lack the know how from Chinese plus the kind of mass level which Chinese are capable of. It is difficult to match China product price to quality ratio for any countries.

 

[Quibbler]

lol.... Not every tom dick harry buyer can replace a big appetite customer. Is every customer consume the same amount of oil like China? From 2017 report, top 2 oil consumers are US and China.

No wonder Indian failed in business and your rupee is failing..

You did not alter total global demand or total supply by changing supplier. Hence no op. Are you really that dumb not to understand. You really need free media, you seem like a frog in a well, chanting China is greateshhhht.

 

[Beast]

You did not alter total global demand or total supply by changing supplier. Hence no op. Are you really that dumb not to understand. You really need free media, you seem like a frog in a well, chanting China is greateshhhht.

Who's the frog? Indian rupee failing worthless toilet paper shall be some fake news planted by CPC.
Everything is still working well for India under Modi, happy?

 

[Quibbler]

Who's the frog? Indian rupee failing worthless toilet paper shall be some fake news planted by CPC.
Everything is still working well for India under Modi, happy?

I replied with logic and reasoning. You answered with shit posting. No wonder an average Chinese is still 7 times poorer than an American. And you have wet dreams of claiming victory over them. Its fine, probably because of the abject poverty and the mindless brainwashing by CPC media in the major part of your life. Buddy try and jump out of the well. Read some macro-economics and dont degrade the standard of this forum.

I have a policy of not replying to dumb posters and trolls. You seem to be of the former kind. So now you will have all the time to shitpost.

 

[Beast]

I replied with logic and reasoning. You answered with shit posting. No wonder an average Chinese is still 7 times poorer than an American. And you have wet dreams of claiming victory over them. Its fine, probably because of the abject poverty and the mindless brainwashing by CPC media in the major part of your life. Buddy try and jump out of the well. Read some macro-economics and dont degrade the standard of this forum.

I have a policy of not replying to dumb posters and trolls. You seem to be of the former kind. So now you will have all the time to shitpost.

LOL.. Poor Indian, pls look into the mirror before you try mock Chinese. I dont need an indian 5 times poorer than Chinese telling me what is right an wrong. You are not qualify.

 

[hoangsa74]

LOL.. If American dont buy Chinese product, they will become poorer as they need to spend even more for their necessity. Buying Chinese product is not a choice but already is a must. Look at walmart, if you clear out made in China, basically the whole store is empty with nearly nothing to sell.

Chinese product is good not just on pricing but the most value for money product to buy becos Chinese master the art of mass production with the most efficiency. You will be suprised made in Vietnam or Made in India may cost even more than China but not neccesary better or even worst off quality cos they lack the know how from Chinese plus the kind of mass level which Chinese are capable of. It is difficult to match China product price to quality ratio for any countries.

That is a myth. The American living standard has been poorer since the early 1990's due to American losing 20 million direct and indirect manufacturing jobs to China and virtually every manufacturing companies (which the exception of high tech manufacturers) have closed down. Cheaper Chinese goods doesn't compensate for the loss of American jobs and loss of jobs means you can't buy stuff even if it's cheap. I'll give you an example, in the early 1990's where I live (Orange County, CA), the minimum wage was about $4.25/hour while a median home price was about $150k; the home price/minimum wage ratio was 35,294 times. Fast forward to 2018, the minimum wage was $11/hour while home price is about $650k; the ratio now has risen to 59,090 times. As you can see, cheaper incoming goods (mainly from china) have flattened the American wage and the loss of 20 million manufacturing jobs have made jobs are more scarce than before and employers in America now do not need to pay American people with a living wage like it used to be.

The only way for the American living standard to rise back to the pre-1990's is to buy American made goods and that means incoming goods (mainly Chinese goods) have to be restricted (via trade war). When foreign goods are restricted, domestic American companies can prop up again and so do the jobs. Economics is a zero sum game, if you are able to sell a car which means I can't sell a car because consumers have limited income

 

[Adam WANG SHANGHAI MEGA]

LOL.. If American dont buy Chinese product, they will become poorer as they need to spend even more for their necessity. Buying Chinese product is not a choice but already is a must. Look at walmart, if you clear out made in China, basically the whole store is empty with nearly nothing to sell.

Chinese product is good not just on pricing but the most value for money product to buy becos Chinese master the art of mass production with the most efficiency. You will be suprised made in Vietnam or Made in India may cost even more than China but not neccesary better or even worst off quality cos they lack the know how from Chinese plus the kind of mass level which Chinese are capable of. It is difficult to match China product price to quality ratio for any countries.

That is a myth. The American living standard has been poorer since the early 1990's due to American losing 20 million direct and indirect manufacturing jobs to China and virtually every manufacturing companies (which the exception of high tech manufacturers) have closed down. Cheaper Chinese goods doesn't compensate for the loss of American jobs and loss of jobs means you can't buy stuff even if it's cheap. I'll give you an example, in the early 1990's where I live (Orange County, CA), the minimum wage was about $4.25/hour while a median home price was about $150k; the home price/minimum wage ratio was 35,294 times. Fast forward to 2018, the minimum wage was $11/hour while home price is about $650k; the ratio now has risen to 59,090 times. As you can see, cheaper incoming goods (mainly from china) have flattened the American wage and the loss of 20 million manufacturing jobs have made jobs are more scarce than before and employers in America now do not need to pay American people with a living wage like it used to be.

The only way for the American living standard to rise back to the pre-1990's is to buy American made goods and that means incoming goods (mainly Chinese goods) have to be restricted (via trade war). When foreign goods are restricted, domestic American companies can prop up again and so do the jobs. Economics is a zero sum game, if you are able to sell a car which means I can't sell a car because consumers have limited income

I give you an exemple, 8.3millions lost in America becoz of globalization but 11millions new value added high end job created in US,
Chinese steal your job is a lie,you Yankees do not want to manufacture toys but want to do design and master the copyright and brands value, that is your choice, not things decided by other countries.and Yankees are jealous of China recent rapide development and are quite worried,can not tolerate china have even low end jobs any more,not even to mention high end jobs created by China high techs company such as HUAWEI,ZTE,Tencent,alibaba,haier,gree,TCL,lenovo,BYD, geely motor,CRRC,Foxxcomm,DJI drones,vivo,OPPO,xiaomi,....etc.

You Yankees created globalization and told china government it is a Good things to let American company set up in china and now you tell us globalization is bad coz we China made it.?!

it's like you have a poor neighbor who used to be poor and now become richer and you accuse him steal your money,WOW,pirate country like Yankees can always find excuse it needs just like the massive destruction weapon excuse for Iraq war in 2003?
Do you Yankees find the said weapon of saddam yet?!?!
Yankee is relatively weak not because China steal US jobs but US itself was busy start wars against Serbia in 1998,against afghanistan in 2001,against Iraq in 2003,as well as Syria,lybia and Ukrainian civil war involvement,and Isis created by Yankee itself after saddam been killed.
TO summarize,we China focus on development,while US focus on bombard the globe!!

 

[Beast]

I give you an exemple, 8.3millions lost in America becoz of globalization but 11millions new value added high end job created in US,
Chinese steal your job is a lie,you Yankees do not want to manufacture toys but want to do design and master the copyright and brands value, that is your choice, not things decided by other countries.and Yankees are jealous of China recent rapide development and are quite worried,can not tolerate china have even low end jobs any more,not even to mention high end jobs created by China high techs company such as HUAWEI,ZTE,Tencent,alibaba,haier,gree,TCL,lenovo,BYD, geely motor,CRRC,Foxxcomm,DJI drones,vivo,OPPO,xiaomi,....etc.

You Yankees created globalization and told china government it is a Good things to let American company set up in china and now you tell us globalization is bad coz we China made it.?!

it's like you have a poor neighbor who used to be poor and now become richer and you accuse him steal your money,WOW,pirate country like Yankees can always find excuse it needs just like the massive destruction weapon excuse for Iraq war in 2003?
Do you Yankees find the said weapon of saddam yet?!?!
Yankee is relatively weak not because China steal US jobs but US itself was busy start wars against Serbia in 1998,against afghanistan in 2001,against Iraq in 2003,as well as Syria,lybia and Ukrainian civil war involvement,and Isis created by Yankee itself after saddam been killed.
TO summarize,we China focus on development,while US focus on bombard the globe!!

Very well said. Sad to say American culture and upbringing is always based on deception and lying. Their policy of imperialism is also based on playing out each other, double standard and flip floppping statement. American shall be ashamed of their government. Conclusion is American government has no moral.