U.S.-China Trade Skirmish Could Hit Oil Exports

In just two years, China has become a major customer of U.S. oil companies, but that could change quickly if the trade skirmish between the two countries escalates.
Among the next round of products facing a 25% Chinese tariff is crude oil.
China is now the second largest market for U.S. oil exports, according to the U.S. Energy Information Administration.
In the first fourth months of 2018, about 20% of U.S. oil exports went to China.
Since the U.S. dropped restrictions on oil exports in late 2015, exports to China have increased 15-fold to about 330,000 barrels a day.
Energy analysts say U.S. producers may be able to find alternative buyers, but probably at lower prices than the oil-hungry China is willing to pay.