The crude oil may have been a bluff and liquid natural gas (LNG) may also be a bluff. China needs the energy and needs to keep the prices low for its industry.
The US exported 141,000 b/d of petroleum products to China in May, a 10-month low, according to US Energy Information Administration data. The exports averaged 229,000 b/d in 2017, up from 181,000 b/d in 2016.
The US is not a major supplier of LNG to China, representing just under 5% of total Chinese supply in 2017 and moving up to around 7% so far this year.