China Is Buying Up Canadian Crude Again

At least three tankers loaded with Canadian crude have headed to China since the start of the year, Bloomberg reports, citing shipping data. This is the latest sign of how the oil crisis is changing demand patterns. The usual buyers of Canadian crude are U.S. refineries, but demand has been depressed in the United States. In China, however, it appears to be improving, benefiting the long-suffering Canadian oil industry. Oil sands producers had to shut in about 1 million bpd in oil production amid the latest price crisis, and the…