Tuesday, September 20, 2016

Oil Glut In World's Biggest Market

China's crude oil output sees sharp drop

BEIJING - China's crude oil output fell 9.9 percent year on year in August, the biggest monthly drop since 2003 as refineries slashed production amid sluggish global oil prices, data from the National Bureau of Statistics showed Monday. Imports, on the other hand, have trended upward after private refineries were given permission to import crude last…