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Commodities Briefing - Categorized | Oil, Price Watch more

Oil price heading for US$200 as China’s imports set to surge

Posted on 14 October 2013

With the mainland’s voracious demand, World Bank consultant projects steady climb in prices, and that will hurt global economic growth. Last month, China passed another milestone in its economic development, although not an auspicious one.
In September, China overtook America as the largest buyer of oil on the international markets. According to the Energy Information Administration of the US government, last month China’s net oil imports hit an average 6.3 million barrels a day, surpassing the US, which imported 6.2 million barrels a day……………………………………….Full Article: Source


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