China became the second-largest destination for U.S. crude oil exports in 2023, with average daily shipments doubling to 452,000 barrels compared to 2022, per U.S. Energy Information Administration data. But here's the twist: The U.S. only ranked 10th among China’s crude oil suppliers, trailing Russia, Saudi Arabia, and Iraq.
📊 The numbers tell a story of asymmetric trade flows as the China International Import Expo (CIIE) kicks off in Shanghai this week, featuring 152 countries and regions. While U.S. oil flows to China surged, American brands face stiff competition in the Chinese market.
🗽 CGTN Stringer asked New Yorkers to guess China’s rank in U.S. oil exports. One interviewee hoped for ‘more tech patent collaborations’, while another urged the U.S. to ‘drop tariffs to benefit both sides’. 🇺🇸🤝🇨🇳
💡 Why does this matter? Energy trade remains a key pillar in U.S.-China relations, even as both navigate tech competition and geopolitical headwinds. With CIIE spotlighting global partnerships, could 2024 bring fresh opportunities?
