(Bloomberg) — As the U.S. finds itself in the unfamiliar position of lobbying for higher oil prices, China’s enjoying what amounts to a major rebate from crude’s crash just as it tries to recover from the coronavirus.The world’s biggest oil importer is saving about $250 million a day after crude prices crashed this year amid dual demand and supply shocks. It’s coming at an opportune time for its economy, which is expected to post the slowest growth since the end of the Mao era. Should low prices last, benefits could include a boost in consumer spending, a stronger trade balance …read more
Source:: Yahoo Finance
