On Friday, Saudi Arabia, China’s top supplier, launched a price war with Russia, its second largest supplier, after the two countries failed to agree on production cuts to support prices. Photo: Reuters On Friday, Saudi Arabia, China’s top supplier, launched a price war with Russia, its second largest supplier, after the two countries failed to agree on production cuts to support prices. Photo: Reuters
On Friday, Saudi Arabia, China’s top supplier, launched a price war with Russia, its second largest supplier, after the two countries failed to agree on production cuts to support prices. Photo: Reuters

China’s oil reserves to be boosted amid global crude price rout, Beijing researcher says

  • Current low prices mean China is likely to top up its oil reserves, but purchases may be limited due to weaker demand and a lack of storage capacity
  • China, which imported more than 70 per cent of its crude oil requirements in 2019, could take advantage of a price war between Saudi Arabia and Russia

Topic |   China economy
On Friday, Saudi Arabia, China’s top supplier, launched a price war with Russia, its second largest supplier, after the two countries failed to agree on production cuts to support prices. Photo: Reuters On Friday, Saudi Arabia, China’s top supplier, launched a price war with Russia, its second largest supplier, after the two countries failed to agree on production cuts to support prices. Photo: Reuters
On Friday, Saudi Arabia, China’s top supplier, launched a price war with Russia, its second largest supplier, after the two countries failed to agree on production cuts to support prices. Photo: Reuters
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