This is good news for India, Prime Minister Narendra Modi and President Trump celebrates the significant increases in the export of crude oil which has offset the china boycott. According to the S&P Global research, China has promised that in late June they will buy more agricultural and energy products from the US. But when President Trump increases the tariffs by 10% then china crude oil traders shy away from the US in the mid of August. It means China government if backing off from the purchasing commitment they made.
In the year 1996 china start importing crude oil at a small amount but in 2016 the US becomes the largest crude oil-producing country. This made America the world's largest oil exporter. In the 2018 Sino-US trade war heated when China slashed import of oil which about 15 million barrels. Then India replaced China and this way US expert crude oil to India roses up to 6.4 million barrel in April 2018. With this United, State exported 3.4 million barrels in a day and this makes India the second-largest customer of America. There are top Indian importers data in the market. Our company set up a new standard in offering import as well as export data.
This demand for oil export in India increases every year. This also shows the strong tie between the two countries. The news also sight that India's LNG import capacity is also growing up to 52.5 million tonnes in the next three to four months. Both countries also invest in the US-based project venture for success.
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