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The weekly average oil prices of the Organization of Petroleum Exporting Countries (OPEC) dropped to 97.62 U.S. dollars per barrel last week, the Vienna-based cartel said on Monday. So far, the weekly average prices have declined 3.72 dollars from the record 101.34 dollars per barrel in the second week of March, after declining for three consecutive w...
China will continue its strong growth in the long term despite the global financial turbulence, World Bank President Robert Zoellick said Monday. Some Chinese stock markets have been hit by the turbulence and China's economy will be likely to slow down a little bit, Zoellick said at a press conference here, adding that he expects China to sustain its ...
China is expected to consume 62.5 percent more oil in 2020 compared with 2006 as fast economic growth will continue to fuel domestic oil demand, says a government think tank. China's oil consumption would rise from 346.6 million tons in 2006 to 407 million tons in 2010 and 563 million tons in 2020, the Chinese Academy of Social Sciences forecast in a ...
The dollar rose against major currencies on Monday after weak U.S. job data was digested and world major stock markets ended higher. The euro bought 1.5711 dollars in late New York trading compared with 1.5723 dollars it bought late Friday. The dollar rose to 1.0142 Swiss francs from 1.0080 Swiss francs, and rose to 103.09 Japanese yen from 102.04...
China Oilfield Services Limited (COSL) announced on Monday it had received a letter of intent for a three-year drilling fluids service contract in Indonesia worth several million U.S. dollars. The letter was from China National Offshore Oil Corporation's Southeast Asia Ltd. (CNOOC SES Ltd.). It was the first time COSL had extended its drilling fluids ...
Chinese Premier Wen Jiabao said during a spring planting inspection in the northern Hebei Province on Saturday and Sunday that the Chinese people were fully capable of feeding themselves. Wen said the country's self-reliance in feeding its 1.3 billion people with its own grain production was a great contribution to the world. China has abundant gr...
The increase of actual use of foreign investment in China's western regions exceeded the nation's average by 128 percentage points in the first two months this year, said an official of the ministry of commerce on Sunday. During the first two months, the western regions' actual use of foreign investment was 1.393 billion U.S. dollars, more than double...
Dalian Commodity Exchange (DCE) has become the world's second biggest agricultural products futures exchange in terms of trading volume, according to new statistics released by the U.S. Futures Industry Association (FIA). The trading volume of agricultural products on the DCE accounted for 29 percent of the total world volume, behind only the Chicago ...
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