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Listen: US crude oil returns to China in small volumes amid ongoing US-China trade talks

US crude is returning to China in small volumes, signaling growing confidence among Chinese buyers that the ongoing trade talks between China and the US will yield a favorable outcome. Sinopec most recently bought a VLCC of US crude to be delivered to China in late May, after having halted all imports of US crude since October last year. Several independent Chinese refiners have also been seen making small purchases in recent months.

Avantika Ramesh, associate editor for oil markets, and Andrew Toh, editor for the Asian sweet crude market, examine the recent developments in US crude flows to China and the rest of Asia, and whether we can expect Chinese imports of US crude to pick up further going forward.