![(FILES) This file photo taken on April 20, 2016 shows oil storage tanks on Jurong island off Singapore. Global oil demand will fall by a record amount this year as lockdown measures imposed to curb the coronavirus outbreak bring the economy to a virtual halt, the International Energy Agency (IEA) said on April 15, 2020.
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/ AFP / ROSLAN RAHMAN](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/4G3PLKG242YARIHTWUJZQDAYL4.jpg?smart=true&auth=35f3145cca058f285d3c828436184e698a15c44ccff7302168c917d9f2f0dce1&width=400&height=225)
Oil storage tanks on Jurong island off Singapore. The city-state's biggest oil trader is seeking a moratorium on $3.85bn worth of debt. AFP
Oil storage tanks on Jurong island off Singapore. The city-state's biggest oil trader is seeking a moratorium on $3.85bn worth of debt. AFP
Singaporean oil trader hid $800m in losses
Amount revealed as firm seeks moratorium on $3.85bn worth of debts