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Commodities Briefing - Categorized | Market Pulse, Oil, Price Watch more

China’s oil demand is poised to push up prices

Posted on 08 November 2010

From WSJ: China is displaying some Olympic-size oil demand of late. A swell of new car owners and double-digit percentage economic growth is spurring oil consumption across the country, and refineries are having trouble keeping up.
And for the first time since Beijing hosted the Summer Olympic Games in 2008, China this month may become a net importer of diesel. That demand spike—China was stocking up in case it needed backup fuel—played a role in oil’s climb to its record of $145 a barrel……………………………………….Full Article: Source


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