Since the late 1990s, China has been the big beast in the global oil markets, driving demand for oil and other commodities that it used to power double-digit economic growth every year for many years and then high single-figure growth for years after that. As late as 2017, China’s high rate of economic growth still allowed it to overtake the U.
S. as the largest annual gross crude oil importer in the world, having become the world’s largest net importer of total petroleum and other liquid fuels in 2013. From 1992 to 1998, China’s…Lower Oil Prices On The Horizon As China Enters Next Phase Of Covid Crisis
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