Xi's Energy Gamble: What Lies Behind China's Interest in US Oil President Xi Jinping's expressed interest in buying more US oil appears to be a pragmatic move by China to reduce its dependence on the Strait of Hormuz, a critical waterway for global energy supplies.
However, this development is part of a broader complex dance between Beijing and Washington. Trade tensions between the two nations are a key factor.
The White House meeting between Trump and Xi mentioned the possibility of Chinese purchases of US energy and agricultural products as part of a broader deal.