China Aggressively Sold Oil in Recent Weeks, Mercuria CEO Says

Chinese oil companies have been aggressive sellers in recent weeks, selling barrels to several nations in tenders, according to the chief executive officer of commodity trader Mercuria Energy Group Ltd.

“What has been happening in the last two or three weeks is actually they have been aggressively selling crude oil,” Mercuria CEO Marco Dunand said at the FT Commodities Global Summit in Lausanne on Tuesday. “They’ve taken out a lot of demand from various countries and offered aggressively in tenders.”