Economic, political values of US oil trade worthy of attention
ANBOUND
China's imports of oil from the United States increased significantly. In the first 5 months of 2017, China's daily imports of crude oil from the United States reach nearly 10 million barrels, which is 10 times of the average of 2016. At the same time, the US crude oil extraction increased significantly in 2015; the United States government also lifted the crude oil export ban implemented for almost 40 years, and the oil trade pattern is now experiencing huge changes. Coupled with the political uncertainty in the Middle East, these factors have opened the door for the United States to export crude oil to China. China's imports of crude oil from the United States are also China's advantage in dealing with its trade relations with the United States. First, the increase in imports can reduce the United States' surplus; second, this will support the United States domestic oil production, which is one of the key objectives of the Trump administration. China should utilize such advantages wisely to bring out the effects.