SINGAPORE : China's tepid economic growth and a possible extension of oil output cuts from top exporter Saudi Arabia are set to dominate discussions as global energy executives and officials gather next week at two major industry events in Singapore.
Hopes for a rapid recovery in the world's biggest importer of crude, and second largest buyer of liquefied natural gas , are fading fast amid elusive policy support, and its record oil inventories key factors in capping global oil prices and Asia's spot LNG prices. Russian oil exports have continued despite prices rising above price caps as the West is keen to maintain global supplies and keep prices down. Meanwhile, U.S. sanctions on Venezuela look poised to ease, improving global supply while abundant and cheap Iranian oil heads for China.