Despite the low oil demand during the COVID-19 outbreak in China, the world’s top oil importer is set to increase its crude oil imports by 2 percent in 2020, thanks to the low oil prices , according to a research think-tank affiliated with state oil giant China National Petroleum Corporation (CNPC). China’s apparent crude oil consumption is expected to increase by between 1 percent and 2 percent year on year, CNPC Research says, as carried by Reuters . However, demand for refined oil products in China is forecast to record its first drop in two decades, as it is expected to fall by 5 percent this year compared to last year. Natural gas demand is seen rising, but at the slowest pace in 20 years, as per CNPC, and this low growth could give the global liquefied natural gas (LNG) market another headache on top of the current oversupply […]