China is a critical market for U.S. oil

Oh no, the only markets that really critical for US oil is the US. Exports keep the machine chugging for the interim but if US oil producers get squeezed, they will eat worms and push more oil into the market by doing what needs to be done in order to make this happen.

After soaring last year, U.S. crude oil exports to China have started to slow down because of trade concerns and price differentials, Morningstar found.

Read more …