A trade war truce between Washington and Beijing has prompted speculation that China will ramp up crude imports from the US, supporting demand for longhaul tanker shipments.
During the G20 meeting held in early December, the world’s two largest economies agreed to a 90-day cease fire during which period no additional tariffs would be imposed on each other.
If the truce can hold despite a high-profile arrest of chief financial officer of China’s Huawei Technologies for alleged violation of US sanctions, viewed by many as a sigh of deteriorating bilateral relationships between China and the US, many experts expect China to increase purchases of US crude as a good gesture.
