China Is Fueling South America’s Oil Boom ...Middle East

OILPRICE - Economy
China Is Fueling South America’s Oil Boom
source : OILPRICE ( Middle East ) () 8
Oil demand from China has been one of the few bright spots for a global petroleum industry severely impacted by a long-term global supply glut and the economic fallout from the COVID-19 pandemic. The world’s second-largest economy hunger for energy keeps growing despite the global COVID-19 pandemic and a resultant sharp decline in global economic activity during 2020. Data from China’s General Administration of Customs show oil imports for January to November 2020 grew by 9.1% year over year to an average of 13.5 million barrels daily.…

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