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Slowing China comes to oil's rescue
Beijing's plans to build up a 500 million barrel strategic reserve will prevent a further price crash, say analysts
Add BT as a preferred sourcePublished Fri, Sep 18, 2015 · 09:50 PM
London
EVEN after China's slowing economy dragged crude to a six-year low, oil's second-biggest consumer remains the main safeguard against a further price meltdown.
While China's surprise currency devaluation helped trigger Brent crude's slump to about US$42 a barrel last month, the nation's stockpiling of oil can staunch further losses.
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