China calls for stabilizing oil supplies

BEIJING—Chinese Ministry of Commerce (MOC) on Saturday urged local commerce bureaus to set up and improve early warning system amid efforts to stabilize domestic oil supplies.
Many filling stations across the country are experiencing shortages. Experts have said that the government should reform the oil pricing mechanism to reflect international levels and allow oil firms to transfer the cost to customers. The MOC ordered local commerce authorities to closely monitor the oil market and set up and improve early warning system to tackle emergency fuel shortages.
The commerce bureaus should urge local refineries to increase and rationally distribute fuel supplies, the MOC said in a notice.—Xinhua