Global Oil Demand Set To Tumble As China Cracks Down On Teapot Refiners
by Tyler Durden
ZeroHedge.com
Sep 6, 2016
Purchases by the China’s teapot refiners, granted permission last year to buy foreign crude, have soaked up some of the global oil glut over the past years. However, blistering crude oil demand from teapots may be about to hit a brick wall as a government tax crackdown threatens to constrain this new source of demand from China.
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