White House: China eyes more US oil to cut Strait of Hormuz dependence
🟡 NeutralBaird Maritime2026-05-14
President Xi Jinping expressed interest in purchasing more US oil to reduce China's dependence on the Strait of Hormuz during a meeting with President Trump. China has halted US oil imports since May 2025 due to tariffs, and tariff reductions would likely be a prerequisite for any resumption of purchases. The US and China are expected to explore a trade mechanism for non-sensitive goods.