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Commodities Briefing - Categorized | Oil, Price Watch more

Crude oil falls as global slowdown cuts demand in China, Japan

Posted on 17 November 2008

From Bloomberg: Oil fell for a second day in New York on signs the global slowdown is limiting demand in China and Japan, the world’s second- and third-largest crude users.

Japan entered the first recession since 2001 as its gross domestic product fell an annualized 0.1 percent in the three months ended Sept. 30 after shrinking 3.7 percent in the previous period. China National Petroleum Corp., the country’s biggest oil producer, said demand has contracted “sharply” since September because of the global credit crisis….. Full Article: Source


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