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Commodities Briefing - Categorized | Oil, Price Watch more

China shortens oil pricing period

Posted on 27 March 2013

China will adjust the prices of oil products every 10 working days to better reflect changes in the global oil market, the National Development and Reform Commission (NDRC) announced on Tuesday. Previously, domestic fuel prices were adjusted when prices for Brent, Dubai and Cinta crude changed by more than 4 percent over 22 working days.
The new pricing system also cancels the 4-percent floating band for oil price changes and adjusts the varieties of crude used to calculate the price changes for domestic oil products, the commission said at a press conference………………………………………..Full Article: Source


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