China Demands blue sky and affects oil prices

China Demands blue sky and affects oil prices

World August 23, 2016 20:09

amsterdam - The oil price is recovering from his fall to $ 27 in February, but China will be a stop to stabbing with a remarkable intervention.

The country is host to the upcoming G20 meeting of top countries in September in Beijing. In the run Beijing shows hundreds of commodity processors to have given the order to reduce production.

This decline has depressed demand for crude oil, estimated 250 000 barrels per day, and should provide a blue sky around the G20. if the government in China countries.
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Which will restrict production according to consultancy Energy Aspects for the entire third quarter, provide a significantly lower demand for crude oil.

China's oil imports had risen to correct records in the first half. They transcended the US demand Energy Aspects said. That led to a 80% price increase compared to the low point in twelve years.

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