China has replaced Canada as the United States’ top crude oil buyer.
More than eight million barrels of U.S. light crude made its way to China in February—nearly four times its January imports, according to U.S. Census Bureau data. Canada, the United States’ largest trading partner, purchased 6.84 million barrels in the same month, down 20% from their January figure, Bloomberg reports.
Asian countries are increasingly looking to America to fill their energy needs as OPEC nations curb production to address global oversupply and push up oil prices, according to Bloomberg.
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The United States, which exports more crude than many OPEC nations, has not been the only country to benefit from a drop in production from the Middle East. Last year, Russia beat out Saudi Arabia to become China’s top crude oil supplier.
