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It’s a global oil market. If China wants to overpay, so be it.



What do you mean "overpay"? It's a global market with a spot price?


Yeah and spot was high.


If you need vital goods to run your day to day operations, you'll be willing to overpay off it means you don't have to shut everything down even more than you've had to do so already. Your net benefit as China might outweigh the cost, even if you must buy anyways. The alternative is shutting down the economy more than has already occurred.


Right, they didn’t overpay, they bought at the market rate? The price they would have paid from any supplier?




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