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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: mishedlo who wrote (20401)10/21/2004 10:57:47 AM
From: RealMuLan  Read Replies (1) of 110194
 
High prices cut growth in Chinese oil demand
By Wing-Gar Cheng and Loretta Ng Bloomberg News Friday, October 22, 2004
BEIJING Growth in Chinese imports of crude oil slowed to 5.7 percent in September from 37 percent in August, figures showed Thursday, underscoring a prediction by the International Energy Agency that record-high international prices would curb demand for the fuel.
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Refiners paid $3.2 billion for 10.35 million metric tons of imports in September, the Customs General Administration of China said in Beijing. The 9.33 million tons imported in August cost $2.7 billion.
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China has led a growth in global oil demand in the past two years, contributing to an 80 percent gain in prices over the past year.
iht.com
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