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China Eases Back on Mideast, African Oil After Buying Binge
LAGOS (Capital Markets in Africa) – China’s crude oil purchases from the Middle East and West Africa dropped to a four-month low in December, following a buying binge the previous month that saw the Asian country’s stockpiles swell. Observed flows to China from the two regions dropped to 5.04 million barrels a day, the lowest since August, after reaching a 2018-high of 6.45 million barrels daily in November, ship-tracking data compiled by Bloomberg show. Most of the…
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