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China Daily | Updated: 2013-07-11 07:30
Crude imports fall in H1 due to slowdown
China's crude imports fell in the first half of 2013 compared with the same period last year, raising the prospect that slowing growth in the world's second-largest economy may lead to lower-than-expected global fuel consumption this year. With oil imports dropping and China warning of a "grim" trade outlook on Wednesday, the world's second-biggest oil consumer may not be the buoyant force it has been for oil markets in the past decade. "There is most certainly a risk that global oil demand growth will miss forecasts because of the slowdown in China," said Ben Le Brun, an analyst at OptionsXpress in Sydney.
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