The American Petroleum Institute warned the Trump administration that the U.S. oil industry would be hard pressed to produce all the oil China has committed to buy under the Phase 1 trade deal signed at the end of last year, Bloomberg reports , citing a closed door meeting between API officials and the Department of Energy last month. “The United States’ ability to expand its exports of crude oil and other liquids would likely become a binding constraint,” the API said. “Even if production is available, logistical challenges remain with marine shipping and the Panama Canal.” China committed to buying some $18.5 billion in additional energy supplies from the United States this year and another $33.9 billion next year. The supplies range from crude oil and LNG to coal and oil products. According to the API, the total for 2020 and 2021 translates into an additional 1 million bpd […]