China buys crude as prices collapse, adding to stockpiles ~ News On The Keyboard

Jumat, 24 April 2020

China buys crude as prices collapse, adding to stockpiles

April 24, 2020 RAS Kamandanu No comments

China, the world’s biggest energy consumer, is building up stockpiles of crude oil as global prices plunge due to the coronavirus outbreak. The price collapse is battering state-owned oil producers and possibly disrupting official plans to develop the industry but is a boon to Chinese drivers and factories. It gives Beijing a chance to add to a strategic petroleum reserve that is meant to insulate the country against possible supply disruptions.