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China stopped buying American crude oil and gas increased orders from Canada by at least 500%. US s

human1234

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human1234

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China stopped buying American crude oil and gas increased orders from Canada by at least 500%.

US sanctions on Iranian oil reached some refineries in China. They start buying Canadian oil, pivoting from American oil.

In the past, Chinese refineries if sanctioned would divert to Middle Eastern oil.

This is definitely a political move, moving our closest neighbor and largest trading partner away from the US. I will not say anything about being the closest ally, the actions have meant Russia is a closer ally than Canada.

In other news, Chinese investment in new pipelines moving East wards and expansion on the current pipeline network that moves Canadian crude to Canada's west coast are in talks.

 

https://www.reddit.com/r/WallStreetbetsELITE/s/qMlxHUIw6c

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