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China Buys Colombian Oil as Global Glut Deepens

Posted October 27, 2014

Under Economic Issues, International Trade Issues

(China Daily)

China is finding oil supplies 14,000 miles (22,530 kilometers) away, aided by the global fall in prices that has left producers vying for new markets.

PetroChina Co said it has bought Colombian crude for a northern refinery for the first time because it was good value, in a transaction which underscores how the world's second-biggest oil consumer is benefiting as producers from the Middle East to Latin America vie for customers in Asia. Read more here.