SHANGHAI: The outlook for Chinese oil markets is looking a little brighter after a boom in travel over the Lunar New Year, raising hopes of a more sustained recovery in demand. China has set a brisk pace in snapping up cargoes of crude from across the world since the mid-February holiday, according to traders, as well as increasing its term supplies from Saudi Arabia for March. While traders said the volumes bought are steady compared to the previous month, the purchases are being made ahead of maintenance work, when refiners normally reduce imports. “Some refineries may be raising run rates or postponing maintenance plans because of strong demand momentum following higher-than-expected Lunar New Year travel,” analysts at Energy Aspects Ltd.…
