The Traderszone Network

Published in TZ Latest News 24 October, 2014 by The TZ Newswire Staff

China Scores Cheap Oil 14,000 Miles Away as Glut Deepens

PetroChina Co. said it bought Colombian crude for a northern refinery for the first time because it was good value. The transaction underscores how the world’s second-biggest oil consumer is benefiting as producers from the Middle East to Latin America vie for customers in Asia. China consumed the second-biggest amount of crude on record in September and imported the largest volume ever for that time of year, customs data show.

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