07192018Thu
Last updateThu, 19 Jul 2018 4pm

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End-User News

China’s Promises Allow U.S. Producers to Breathe Easier

Recently, Chinese President Xi Jinping gave reassuring words to help calm tariff tensions with the U.S. Xi’s commitment to cut tariffs and open the economy could be a first step in drawing more interest from foreign investment.

Rystad Energy estimates that U.S.-headquartered E&P companies have 75,000 barrels a day of crude oil production and 200 million cubic feet a day of gas coming from China. This is miniscule in comparison with the overall 3.7 million barrels a day of crude oil production and 13.5 billion cubic feet a day of gas that China is projected to produce in 2018. 

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