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China falling further behind US trade deal energy targets, even as crude oil imports soar to record volumes

Summary:
[unable to retrieve full-text content]China imported record volumes of crude oil in May, but despite the terms of the phase one trade deal with the United States requiring it to buy huge volumes of energy products, very few of the bumper shipments are expected to have been American.Instead, China’s “opportunistic buyers” went on a shopping spree for cut-price oil from the Middle East and Russia to bolster its national reserves, or to just turn a quick profit, even as US oil prices briefly turned negative for the first time in their…

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[unable to retrieve full-text content]
China imported record volumes of crude oil in May, but despite the terms of the phase one trade deal with the United States requiring it to buy huge volumes of energy products, very few of the bumper shipments are expected to have been American.Instead, China’s “opportunistic buyers” went on a shopping spree for cut-price oil from the Middle East and Russia to bolster its national reserves, or to just turn a quick profit, even as US oil prices briefly turned negative for the first time in their…

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