China's Slowing Oil Demand

This is a China news story, published by CNBC, that relates primarily to Fereidun Fesharaki news.

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Tepid Chinese oil demand

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global oil demand growth

CNBC

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Oil stares at a bleak future as China's economy sputters. The good news: A market 'bust' is unlikely

Summary

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87% Informative

Tepid Chinese oil demand, coupled alongside a perceivably oversupplied market, has driven U.S. crude prices down to their lowest in over a year .

Goldman Sachs estimates crude prices could fall to the low $ 60s per barrel level if China demand remains tepid.

The main reason for the downturn is a "rapidly slowing China ," where consumption contracted for the fourth consecutive month in July .

I don't think so," she said. India 's growth rate will be consistent and over the long term, well into the mid 2040s , but it's not going to be the same size and magnitude as that of China 's, said Fereidun Fesharaki , chairman of energy consultancy Facts Global Energy ..

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formal

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English

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