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Crude Oil Live News Update
U.S. crude exports to India surge as China intake fades: Russell
U.S. crude oil producers appear to have found an alternative buyer for cargoes no longer heading to China, with India on track to import record volumes in August.
India has booked a total of 9.94 million barrels of crude, about 319,000 barrels per day (bpd), to arrive from the United States this month, according to vessel-tracking and port data compiled by Thomson Reuters Oil Research and Forecasts.
This would be almost triple the 119,000 bpd India imported from the United States in July, and well above the 190,000 bpd for November last year, the previous record for a month.
The August total is also likely to be just above the 9.65 million barrels imported over the first seven months, showing the scale of acceleration in India's imports of U.S. crude.
Indian refiners' interest in U.S. crude will be welcome news to shale producers looking for buyers outside of China, which is likely to scale back imports as the trade dispute between the administration of President Donald Trump and Beijing escalates.
Although not imposed as yet, China has proposed import taxes of up to 25 percent on U.S. crude, as well as on liquefied natural gas and coal.
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https://www.royaltraders.co
Crude Oil Live News Update
U.S. crude exports to India surge as China intake fades: Russell
U.S. crude oil producers appear to have found an alternative buyer for cargoes no longer heading to China, with India on track to import record volumes in August.
India has booked a total of 9.94 million barrels of crude, about 319,000 barrels per day (bpd), to arrive from the United States this month, according to vessel-tracking and port data compiled by Thomson Reuters Oil Research and Forecasts.
This would be almost triple the 119,000 bpd India imported from the United States in July, and well above the 190,000 bpd for November last year, the previous record for a month.
The August total is also likely to be just above the 9.65 million barrels imported over the first seven months, showing the scale of acceleration in India's imports of U.S. crude.
Indian refiners' interest in U.S. crude will be welcome news to shale producers looking for buyers outside of China, which is likely to scale back imports as the trade dispute between the administration of President Donald Trump and Beijing escalates.
Although not imposed as yet, China has proposed import taxes of up to 25 percent on U.S. crude, as well as on liquefied natural gas and coal.
Traders Get Freedom From Losses
https://www.royaltraders.co
Get Highly Accurate Calls With Highly Qualified Research Team
*Our Reaserch and Analysis based Tips are intraday validity
only which Get Target in a Short Time Period.
*We have very Expensive Team of CFA professionals Who Provides You Best Call in Mcx Market After
The Accurate Research in All International Markets and DATA.
*Our Market Tips are covered by the Full Proof
Follow-Up in which you Enjoy Profit Instantly.
*We will provide you Best Online and Offline support 24/7 via WhatsApp,Facebook,
Yahoo messenger,Telephone,Telegram etc.
*For Tons Of Profit Join Now-9719026661
www.RoyalTraders.co
Best Accuracy For Royal Traders
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