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China Daily Oil Summary:

OIL

Crude arrivals at independent refineries In China’s Shandong region were 1.55m mt in the week to Sep. 10, according to OilChem.

  • Buyers in China are set to receive around 50mn barrels for October loadings from Saudi Arabia, in line with September’s allocation of around 52mn barrels.
  • Domestic airline capacity in Northeast Asia rose 0.2% in the week commencing Sep.11, compared to a 0.3% fall globally. However, total airline capacity for North Asia remains 3.5% below the same period in 2019.
  • YUAN: The currency strengthened to 7.2906 against the dollar from 7.3415 on Friday.
  • Chinese consumer prices rose 0.1% in Aug following July's 0.2% decrease, as recent efforts to boost demand began to show results, according to Yicai. The news outlet said price changes returned to above zero due to the economy entering peak summer consumption and increases in pork prices.
  • The National Development and Reform Commission has released a list of 5,000 projects authorities recommend for private-sector investment, according to Securities Times. The central state planner said the projects total CNY5.27 trillion of investments and cover urban construction, ports and agriculture.
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