China and the US agreed under phase-1 of the trade deal that the Asian nation would buy some $26 billion of US energy this year, but China is unlikely to meet that goal.
Even before the coronavirus pandemic upended all forecasts for global trade and energy demand, analysts had doubted that China would be able to fulfill its pledge in the phase-one trade deal with the United States to buy as much as $26 billion worth of American energy products this year. COVID-19 and the resulting plunge in oil and natural gas demand and prices have made China’s target to buy US energy products even more unachievable–perhaps nearly impossible to achieve–according to estimates for the first five months of 2020.
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