SINGAPORE, Aug 31 Reuters China39;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.
For the first time, the Asia Pacific Petroleum Conference APPEC and Gastech will take place in the same week, creating what will be the largest energy sector gathering in Asia since the pandemic.
China39;s sluggish postCOVID growth, which has curbed fuel and petrochemical demand, will loom large over both events, while concerns about LNG supplies ahead of the northern hemisphere winter are set to dominate talks at Gastech.
Hopes for a rapid recovery in the world39;s biggest importer of crude, and second largest buyer of liquefied natural gas LNG, are fading fast amid elusive policy support, and its record oil inventories key factors in capping global oil prices and Asia39;s spot LNG prices .
To support oil prices, top exporter Saudi Arabia could extend voluntary output cuts for a fourth month in October, leading supply cuts from major producers39; group OPEC, a move that Russia39;s Deputy Prime Minister Alexander Novak said Moscow was also considering.
Despite this uncertainty, Amrita Sen, cofounder of consultancy Energy Aspects said, traders were largely bullish on crude prices but wary of a correction to refiners39; profit margins after a recent rebound due to refinery outages and falling inventories….