Mainland China imported 420 million tonnes of oil in 2017, up 10.7 per cent from a year earlier. Photo: Reuters

China challenges Europe, US benchmarks with launch of first oil futures contracts

Long anticipated debut of yuan-denominated contracts comes after China surpassed the US to become the world’s largest crude importer in 2017

Topic |   Commodities

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Mainland China imported 420 million tonnes of oil in 2017, up 10.7 per cent from a year earlier. Photo: Reuters
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