Georgi Kantchev and Rebecca Elliott, Wall Street Journal, comment on US exports to China which have declined sharply:
All is not lost say the authors:
”As China turns American oil down, U.S. producers have found new markets and overall oil exports haven’t fallen significantly.
But the changes have scrambled the global oil trade, with Russia and Saudi Arabia moving in to replace U.S. oil in China. American producers, in turn, are displacing other producers from its new markets. The situation is also hitting the profits of some shipowners, as the long and lucrative route from the U.S. to China dries up.”