China again has delayed the issuing of oil pricing reform document
China again has delayed the issuing of oil pricing reform document, initiating its new pricing system.
The reform will link the domestic oil product prices to the West Texas Intermediate (WTI) crude price.
The current system allows the prices to be adjusted once a month if the oil product prices on the three markets of New York, Rotterdam and Singapore exceed 8%. The country lifted oil prices four times last year.