Will Guangdong's Oil Crisis Subside?

Economic planners have ruled out the possibility of an oil crisis in China, days after an oil shortage boxed up the booming Guangdong Province. Li Yang, a senior official at the National Development and Reform Commission, said that China's current production, consumption, stockpiles, imports and exports of oil products are well balanced in general, and sufficient supply has been guaranteed.

Xinhua reports that Li ruled out the possibility of an oil products crisis in the country, saying the recent insufficient supply in some parts of southern China resulted from natural disasters and an international oil price hike.