Oil slides on China demand fears

A crude oil tanker is seen at Qingdao Port, Shandong province, China on April 21 2019. Picture: REUTERS/Jason Lee

China, the No 2 oil consumer globally, has suspended some international flights and stepped up efforts to rein in a virus outbreak at Tianjin while the highly transmissible Omicron variant has spread to the northeastern city of Dalian. The US energy department said on Thursday it had sold 18- million barrels of strategic crude oil reserves to six companies, including ExxonMobil and a unit of refiner Valero Energy Corporation.

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