{"id":14377,"date":"2011-07-12T08:07:28","date_gmt":"2011-07-12T06:07:28","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/14377\/brent-oil-trading-near-116-as-chinese-oil-demand-weighs\/"},"modified":"2011-07-12T08:07:28","modified_gmt":"2011-07-12T06:07:28","slug":"brent-oil-trading-near-116-as-chinese-oil-demand-weighs","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/14377\/brent-oil-trading-near-116-as-chinese-oil-demand-weighs\/","title":{"rendered":"Brent oil trading near $116 as Chinese oil demand weighs"},"content":{"rendered":"

Brent oil futures open today’s trading session lower, near $116 a barrel after the latest data on Chinese oil demand is weighing on oil prices as China sees oil imports fall, a sign of weakening consumption from the world’s second largest oil user.<\/p>\n

Latest Brent Oil Price<\/strong><\/p>\n

In London, Brent crude oil futures for August 2011 delivery was trading at $116.62 a barrel, 07.00 GMT this morning on the ICE Futures Exchange.<\/p>\n

China Oil Imports<\/strong><\/p>\n

Oil traders and investors are using caution in response to the news that China’s oil imports fell to an eight month low in June, 5.7 percent lower than the month before and down by 11.5 percent year on year. The fall was mainly due to planned refinery maintenance and a slowdown in China’s manufacturing growth following Beijing’s recent monetary tightening measures.<\/p>\n

China, the world’s biggest oil consumer, imported 56 percent of its oil in 2010. The country expects its annual refined oil output to reach 6.23 million barrels per day by 2015, a 2 million barrel per day increase from the current refining capacity, the official Xinhua News Agency reported earlier this year.<\/p>\n

Further still, China will strengthen its domestic oil exploration and production over the next five years to produce 4 million barrels per day of crude oil.<\/p>\n<\/p>\n

More here:
\nBrent oil trading near $116 as Chinese oil demand weighs<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Brent oil futures open today’s trading session lower, near $116 a barrel after the latest data on Chinese oil demand is weighing on oil prices as China sees oil imports fall, a sign of weakening consumption from the world’s second largest oil user. Latest Brent Oil Price In London, Brent crude oil futures for August 2011 delivery was trading at $116.62 a barrel, 07.00 GMT this morning on the ICE Futures Exchange. China Oil Imports Oil traders and investors are using caution in response to the news that China’s oil imports fell to an eight month low in June, 5.7 percent lower than the month before and down by 11.5 percent year on year. The fall was mainly due to planned refinery maintenance and a slowdown in China’s manufacturing growth following Beijing’s recent monetary tightening measures. China, the world’s biggest oil consumer, imported 56 percent of its oil in 2010. The country expects its annual refined oil output to reach 6.23 million barrels per day by 2015, a 2 million barrel per day increase from the current refining capacity, the official Xinhua News Agency reported earlier this year. Further still, China will strengthen its domestic oil exploration and production over the next five years to produce 4 million barrels per day of crude oil. <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lightning_design_setting":[],"footnotes":""},"categories":[1],"tags":[],"class_list":["post-14377","post","type-post","status-publish","format-standard","hentry","category-welcome-start-here-tradecrudeoilchatroom"],"_links":{"self":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/14377","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/comments?post=14377"}],"version-history":[{"count":0,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/14377\/revisions"}],"wp:attachment":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/media?parent=14377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/categories?post=14377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/tags?post=14377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}