China Increasing Imports of US Oil, Report Says

China is increasing imports of U.S. oil ahead of an expected meeting between U.S. and Chinese trade officials to review compliance with the phase one trade deal (see 2008170022), Bloomberg reported Aug. 18. Up to 14 million barrels of U.S oil will be delivered to China next month, the report said, more than twice the volumes set for August. The oil shipments would fill seven “super-class tankers,” the report said. Earlier this month, a Reuters report noted that energy purchases by China were falling far short -- at only 5% of the targeted $25.3 billion in energy products -- of the agreed commitment through the first half of the year (see 2008040023).