China's oil thirst offers hope of crude glut relief
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Shanghai
CHINA's insatiable appetite for crude is at least one thing oil bulls can count on this year.
The world's biggest commodity consumer may buy 8 per cent more oil from overseas in 2016, taking average purchases to 7.2 million barrels a day, according to the median of seven respondents in a Bloomberg survey including FGE and Energy Aspects Ltd. The country's inbound shipments in the first 11 months of last year increased 8.8 per cent to 6.63 million barrels a day and touched a monthly record of 7.4 million in April, customs data show.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
