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Politics : View from the Center and Left

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To: Cogito who wrote (72408)	6/18/2008 2:10:19 AM
From: Wharf Rat	Read Replies (2) of 542139

Message 24682093 China oil consumption jumps Posted Jun 11th 2008 4:07AM by Douglas McIntyre Filed under: International markets, Analyst reports, China, Economic data, Oil Maybe the chances of oil prices dropping are not so good after all. Optimists hoped that higher prices would cut the demand for crude in emerging markets like India and China. But, if wishes were horses, all the beggars would ride. China's imports of oil rose nearly 13% in the first five months of the year. According to MarketWatch, "China's imports of crude oil in the January through May period totaled 75.97 million metric tons (659.8 million barrels)." China is about to cut the extent to which it underwrites the price of gas and diesel, and that may help the level of consumption going forward. bloggingstocks.com NEW DELHI, May 28 (UPI) -- India said its crude oil import bill increased more than 40 percent to $68 billion in 2007-08 following a consistent rise in global crude prices. According to data released by the Ministry of Petroleum and Natural Gas, India imported 121.672 million tons of crude oil for $67.988 billion in 2007-08, as opposed to 111.502 million tons imported for $48.389 billion the previous year upi.com

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