US-China Oil Deal Dictated By A Market That Hates It

The ‘big beautiful monster’ Phase One trade deal between the United States and China may end up being truly beautiful for U.S. exports on paper only—at least as far as energy is concerned. Analysts have largely concurred that the Chinese promise to buy additional US$52.4 billion worth of U.S. energy products in 2020 and 2021 on top of the 2017 levels of Chinese energy imports is most likely unachievable, even if China intends to fulfill all its pledges in the deal. Just read the fine print in the phase-one deal, which could undermine…