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global oil demand growthCNBC
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87% Informative
Tepid Chinese oil demand, coupled alongside a perceivably oversupplied market, has driven U.S. crude prices down to their lowest in over a year .
Goldman Sachs estimates crude prices could fall to the low $ 60s per barrel level if China demand remains tepid.
The main reason for the downturn is a "rapidly slowing China ," where consumption contracted for the fourth consecutive month in July .
I don't think so," she said. India 's growth rate will be consistent and over the long term, well into the mid 2040s , but it's not going to be the same size and magnitude as that of China 's, said Fereidun Fesharaki , chairman of energy consultancy Facts Global Energy ..
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