U.S. crude oil inventories fell for the sixth straight week, driven by rising exports and near-full refinery operations, the Energy Information Administration (EIA) said Wednesday.
As of May 29, commercial oil stocks and the strategic reserve declined by about 8 million barrels from the previous week, far exceeding analysts' forecasts.
The sharper-than-expected decline underscores strong demand pressures as refiners run at high capacity and exports remain elevated.
US crude oil inventories fall for sixth straight week
China's new regulation on outbound investment, set to take effect on July 1, will provide effective legal protection to companies going aboard, said a spokeswoman for the Ministry of Commerce on Thursday.
The regulation, recently unveiled by the State Council, demands improving the comprehensive overseas service system and refining institutional measures to provide strong legal protection for companies participating in international cooperation and competition, according to He Yongqian, the spokeswoman, at a press briefing in Beijing.
She said the regulation also stresses improving the overseas investment management system and reinforcing the primary responsibility of investors.
"(The regulation) strengthens monitoring, early warning, and risk assessment, and guides and assists investors in preventing security risks. It establishes an investment barrier investigation system, among other measures, to effectively safeguard the security and legitimate rights and interests of investors and their overseas investments," He said.
New regulation to strengthen legal protection for Chinese companies going overseas
