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Hope for lower oil prices as Chinese demand falls.
(From Irish Independent)
HOPES rose yesterday that oil prices might ease after figures showed a dramatic drop in demand for oil products from China.
China's net imports of oil products, excluding LPG, slipped by over a third in July from a year earlier, customs data showed, as slow apparent demand and retail price caps discouraged buying in pricier foreign markets.
The news had little immediate impact on oil prices yesterday, which hit another record of $66 a barrel, but analysts suggested they point to an easing of pressure on world oil markets over coming months.
Over the first seven months, net imports of energy-related products …
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