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China's 'teapots' eat into crude glut - but build Asian fuel surplus
Tweaks in pricing scheme lock up margin when oil price falls under US$40 a barrel
Published Fri, Feb 5, 2016 · 09:50 PM
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Singapore
NEWLY licensed Chinese oil importers are taking advantage of low crude prices and healthy domestic product margins, snapping up hundreds of thousands of barrels a day of a global surplus but also adding to China's swelling fuel exports.
Armed with quotas that cou…
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