By Will Kennedy
Jan. 18 (Bloomberg) -- Crude oil rose for the first time in six days on speculation China’s imports will jump this year as OPEC holds production near current levels.
Crude oil for February delivery oil rose as much as 40 cents, or 0.5 percent, to $78.40 a barrel in electronic trading on the New York Mercantile Exchange. The contract traded at $78.36 at 10:35 a.m. in London.
China’s oil imports may rise 15 percent this year, according to China Oil, Gas & Petrochemicals, published by the state news agency. Qatari Oil Minister Abdullah bin Hamad al- Attiyah said today he doesn’t expect OPEC to raise production targets in 2010.
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