China suspends fuel price cuts to curb oil demand, pollution
Hong Kong
CHINA suspended fuel price adjustments as the world's biggest energy consumer tries to curb demand growth and cut pollution to help improve air quality. Shares of the country's biggest energy producers surged.
Keeping domestic fuel rates stable, while oil price continue to fall, can help curb petroleum consumption from "increasing too fast", National Development and Reform Commission, the country's top economic planner, said in a statement dated Dec 15. Automobile emissions are part of the reason for worsening air pollution, the NDRC said.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Anglo rejects BHP takeover bid as significantly undervalued
India rice prices at three-month low on shrinking demand
Gold prices set for weekly decline ahead of US inflation data
Pricey coffee is here to stay as hoarding, heat hit Vietnam supply
Oil settles higher as weak US economic growth offset by supply concerns