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The United States has reduced the supply of petroleum products to China six times in a month

June, 25 2024
watermark Economic news

According to foreign trade statistics, the supply of petroleum products from the United States to China decreased sixfold, falling from $64 million in April to $10 million in May.


As a result, the United States dropped out of the top ten largest suppliers of petroleum products to China, dropping to 18th place.


In May, China imported petroleum products worth $2.74 billion, which is 19% less than the previous month. The top five exporters to China include Malaysia, Russia, South Korea, the UAE and Singapore.


Shipments from the UAE decreased by a third, to $189.5 million, which was the most significant drop among the main partners. Russia also reduced exports by 31.6% to $616 million, Malaysia — by 16.9% to $893 million, South Korea — by 12.3% to $232.6 million, and Singapore — by 9.7% to $145 million. 


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.