Today's Trends: China Oil Demand Hits Record, to Keep Climbing in 2011
Rigzone Staff
| Friday, January 21, 2011 | 5:28 AM EST
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WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Anish Poojara
|
January 27, 2011
Even if China slows down, at most the growth rate of increasing consumption of petroleum products will come down. If US$ depreciates due to QE2 etc, this add fuel to the fire. And if gold and silver lose their charm then investor and speculative money will flow to oil. Some authorities are talking of US $150 per barrel by the time the summer of 2011 is over. Also the difference between WTI and Brent has risen to unrealistic levels. This means that someone is trying to hold down the WTI prices. Something like the big buys trying to hold down the silver prices when they were short. And when they realize their folly and square up oil can shoot up substantially. US $150 seems high. But $100-110 looks less. US $120-125 looks more likely by December 2011.
Ossama Bayoumy
|
January 24, 2011
I believe that not only China having an increase in the demand for hydrocarbon but there is also an increase in demand in other countries like India and Brazil. Accordingly, I see that we are very close to oil prices being within the range of $100 - $110 / bbl some time in 2011.
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