Japan sets date for sale of oil from strategic reserves

Japan is to sell at auction 629,000 barrels of oil from strategic reserves, Reuters news agency reported, quoting Japan’s Economy, Trade and Industry Ministry. The oil will be supplied to the auction winner from its Shibushi tank in the south of the country in the period from 20th March to 30th June.

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CNPC think tank – China oil consumption to peak by 2030

Chinese oil consumption will peak by 2030, when demand will amount to 780 million tonnes, Reuters news agency reported, quoting the latest forecast from the China National Petroleum Company’s (CNPC) research arm, the Economics and Technology Research Institute (ETRI). A year earlier, the ETRI forecast that the peak would come in 2025 with its level amounting to 730 million tonnes.

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