China's imports of US oil have hit an 18-month high as it pivots away from Russian crude

[Beast]

Iraq (our largest oil exporter) has actually started to offer India oil at cheaper rates than even Russia as its about to loose the tag.

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The western realize their sanction against Russia is useless as long as China and India both dont participate. The India even sell process oil from Russia raw crude oil to western nation, making a huge profit in the process.

 

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The Biden administration has sold a small amount of low-cost oil to China. He hoped to influence Russia's oil price through the Chinese market.

Of course we don't mind the lower price of oil, but it does not mean that China supports US sanctions against Russia.

Trump's allies want Biden investigated for selling oil reserves to China even though Trump did the same thing in 2017

While Trump and his allies ripped Biden for selling oil reserves to Sinopec, records show the Trump administration sold 550,000 barrels to PetroChina.

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China will certainly pay attention to energy security. We can increase the share of Russian oil, but we will not rely on Russian oil. Of course we will keep in touch with our traditional oil partners. Is it strange?

I personally think that China's tolerance limit for a single oil source is 25%, which means that we can import up to 100 million tons of Russian oil every year.

wrong yet again, the Biden administration didn't sell to China. It sold the oil to the highest eligible bidder in the list of US companies registered with the SPR.

For each sale, the Energy Department announces the type and amount of oil from the four SPR sites that will be auctioned in a competitive bidding process. By law, the contracts are awarded to the companies that make the highest bids, and any company that is registered in the SPR’s Crude Oil Sales Offer Program is eligible to make an offer. U.S. Selling Oil from the Strategic Petroleum Reserve to the Highest Bidding Companies - FactCheck.org Q: Is the Biden administration selling crude oil from the Strategic Petroleum Reserve to other countries? A: The oil is sold to eligible companies that make the highest offers. Some of the companies are U.S. subsidiaries of foreign companies, and some that purchased oil have then exported a... www.factcheck.org

USA (美国/4239) and Canada (加拿大/4126) are selling oil to China at a lower price than Russia (俄罗斯/4309). Of course we are willing to buy it.

The oil is the US Strategic Petroleum Reserve sold by Biden, not from US private enterprises.


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the point is to reduce oil prices to reign in inflation and reduce revenue to Russia - two birds one stone.