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China significantly increased its imports of crude oil and liquefied natural gas (LNG) from Canada during the month of August. According to customs data released on Sunday, the volume of crude oil imported from Canada rose by nearly 35 percent compared to the same period last year. The total value of these crude oil imports reached 782.3 million U.S. dollars, representing a 64 percent increase.
The rise in imports coincides with an escalating trade dispute between Ottawa and Washington. Analysts suggest the shift in trade patterns occurs as Beijing seeks to diversify its energy supplies in response to broader geopolitical risks, including conflict in Iran.
In addition to the increased trade with Canada, China also reported a sharp rise in imports of Russian energy products throughout August. These adjustments reflect ongoing efforts by Chinese authorities to secure energy resources amid a changing global trade landscape.
Article source: www.scmp.com | Image credit: www.scmp.com
