China will ramp its crude oil imports from the United States because the world’s two largest economies are natural trade partners when it comes to energy, Chris Wright told CNBC on Friday.
China is the largest oil importer in the world and the U.S. is the biggest producer. “There’s a natural energy trade there,” the U.S. energy secretary told CNBC’s Brian Sullivan in an interview at Port Arthur, Texas.
China relies heavily on the Middle East for its oil imports. Exports from the Persian Gulf have mostly been cut off for weeks now due to Iran’s blockade of the Strait of Hormuz. Beijing has a massive strategic reserve that has helped it weather disruption so far.
“I suspect we’ll see a growth in their oil imports from the United States,” Wright told CNBC.
China and other Asian buyers will eventually buy more oil from Alaska as the Trump administration ramps up production there, Wright said. For now, Beijing will import more oil from the U.S. Gulf Coast, he said.












