programme to take advantage of the recent sharp drop in oil prices. The country’s crude oil imports surged 30% in October, much of the extra purchases going into storage tanks. China’s refiners have raised their product output by only 5.5% this year so far. This divergence has prompted speculation that the government has used…
CHINA: Declining crude oil prices spur stockbuilding
Posted on December 22, 2008 by EnergyAsia