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2016-12-02 19:00:00

CHINA'S OIL BENEFITS

CHINA'S OIL BENEFITS

WSJ wrote, for China's beleaguered oil sector, a deal by the Organization of the Petroleum Exporting Countries to cut output could offer a lifeline to an industry that has been hammered by low prices—and may also hasten its shift away from a heavy reliance on Saudi crude.

If successfully implemented, the deal portends important shifts in how China buys foreign oil, analysts said. It could also help stem a recent slide in domestic production, which in turn would protect jobs across its troubled energy patch.

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Tags: CHINA, OPEC, OIL, PRICES, PRODUCTION
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