Jan 27, 2010

China, setting the world’s oil prices .

FT has a post pointing to a Goldman Sachs report on the oil market, noting the drop in US demand has been entirely offset by a rise in Chinese demand - China, setting the world's oil prices .

They also point to a report from the IEA, pointing out that some Saudi Aramco grades are no longer available to European customers, "in favor of Asian markets and domestic power consumption".

From the BigGav