It forces the oil refineries to subsidize fuel so consumers in China don't feel much of the pain of high energy prices.
More Quotes from Victor Shum:
But then the storm reloaded over the weekend, gained strength and set on a path toward the oil facilities, ... The people who sold on Friday are probably kicking themselves now.Victor Shum
In the short-term, it is all about geopolitical drama.
Victor Shum
It's not only the suspension of production that's causing concern, it's the fact that we could see potential damage to the platforms, which would cause longer disruptions to production.
Victor Shum
Perhaps one could surmise that they wanted the listed company to be more independent and decide what to buy on their own rather than becoming an arm of a state-owned company.
Victor Shum
The downward close on Thursday was due to the warmer weather forecast ... and today the market is correcting (that) so it's gone back up a little.
Victor Shum
Because of this, there is concern of a potential disruption in gasoline supplies due to this switch-over.
Victor Shum
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So this is all part of a free society. People are entitled to hold whatever view they want, and the media can report things how they wish.
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