China’s Oil Demand May Be Overestimated ...Middle East

Robust oil demand in Asia has supported the bullish sentiment on the oil market in recent weeks, but the higher oil prices may cool off crude purchases from the world’s most important oil-importing region. Asian, and in particular Chinese, oil imports have been strong since the start of the year. But signs have already emerged that no crude buying spree will occur in the second quarter with oil prices above $60 eating into refining margins, and with planned maintenance at Chinese refineries beginning in March and April.   The rally in…

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