NDRC looks to reduce oil-pricing cycle to 10 days

China’s National Development and Reform Commission (NDRC) is reportedly considering reducing to 10 days, from the current 22 days, the domestic oil pricing cycle so as to better reflect movements in the international domestic market, according to media reports. There is so far no specific deadline to launch the change. The source also points out that NDRC needs to address several other issues including possible subsidies for the farming and public transport industries and the current economic situation before launching the new shorter cycle. (September 17, 2010)