The US has pushed up on Chinese oil products

In the first nine months of 2024, the United States increased imports of petroleum products from China to the maximum since a record 2016.

In January — September 2024, the supply of Chinese petroleum products to The United States increased by more than 65% compared to the first nine months of 2023, to 5.69 million barrels. Such data is published by the Information Administration of the US Department of Energy (EIA).

In terms of volumes, the export of petroleum products from China to the United States is second only to the record 2016 year. Then the supply for 9 months amounted to 5.74 million barrels, and for the year — 7.85 million barrels.

At the same time, Chinese refineries earned even more money in 2024 than in 2023. According to RIA Novosti with reference to American statistics, in ten months the United States purchased petroleum products from China in the amount of about $ 323 million, which is 2.6 times more than in the same period a year earlier.

The USA is both a major exporter and importer of petroleum products. So far, Chinese exports are small. Its volumes for 9 months are two to three times lower than monthly deliveries from Canada and equivalent to imports from South Korea or Mexico in one month. Also ahead are suppliers from India and Colombia.

It is not known whether Russian oil refined in China is supplied to the USA. If in India its share is about 40%, then in China — 18-19%. The supply of petroleum products derived from Russian oil is not prohibited by sanctions.