And Then There's This...
Well, if the Chinese are driving a lot more cars (see previous post), of course they're importing more oil.
Still, if we listen to da bears, the wheels are about to fly off the global economy any minute now.
Anyway, here's the story..
China's crude oil import up 20.5% in May(Xinhua)
China imported 12.4 million tons of crude oil in May this year, a rise of 20.5 percent from the same month a year ago, China Business News said on Tuesday, quoting latest statistics from the General Administration of Customs. Meanwhile, China's crude oil export dropped by 48 percent in May, the report said. Crude oil imports from Angola stood at 3.2 million tons in May, accounting for 25 percent of the country's total imports that month, it said.
Still, if we listen to da bears, the wheels are about to fly off the global economy any minute now.
Anyway, here's the story..
China's crude oil import up 20.5% in May(Xinhua)
China imported 12.4 million tons of crude oil in May this year, a rise of 20.5 percent from the same month a year ago, China Business News said on Tuesday, quoting latest statistics from the General Administration of Customs. Meanwhile, China's crude oil export dropped by 48 percent in May, the report said. Crude oil imports from Angola stood at 3.2 million tons in May, accounting for 25 percent of the country's total imports that month, it said.
Check out my new gold and energy blog at MoneyAndMarkets.com
posted by Sean Brodrick @ 5:43 PM
<< Home