An overnight fall in the crude oil price on the New York Mercantile Exchange (NYME) is a good news for China’s economic development and its industries, market analysts said.
Tags: crude-oil, economy, PPI
An overnight fall in the crude oil price on the New York Mercantile Exchange (NYME) is a good news for China’s economic development and its industries, market analysts said.
PRICE PLUNGE AS RISK WEAKENS
The price of oil plunged more than 5 U.S. dollars on the NYME on Tuesday after producers said Hurricane Gustav had wrought less [...]
China Petroleum and Chemical Industry Association (CPCIA) said on Tuesday the country had produced 16.17 million tons of crude oil in July, up 5 percent over the same month last year.
This brought the nation’s crude oil production to 110 million tons in the first seven months, an increase of 2.2 percent over the same period [...]
China’s crude oil reserve was estimated to stand at 108.6 billion tonnes, the Ministry of Land and Resources (MLR) said on Monday.
About 21.2 billion tonnes of crude could be developed under the current technology, said the MLR.
Tags: crude-oil
The Ministry of Economic Affairs (MOEA) announced yesterday that the gasoline and diesel prices will be adjusted every week to more accurately reflect fluctuations of international crude oil prices.
Starting Aug. 8, oil prices will be reviewed every Friday and adjusted based on the average international oil price recorded during the previous trading days within the [...]
The Guangdong provincial government is mulling investing RMB 6 billion (US$880 million) to build two strategic crude oil and oil product reserve bases respectively in Huizhou and Shenzhen, in an effort to ease local fuel shortage, according to a statement released by the National Development and Reform Commission of the southern province.
The two oil storages [...]
