Oil News

Crude Oil is trading at $70.90 as of 9:30am, London Time. Crude Oil’s Pool-Position is 79% Long, meaning that most Finotec clients are buying the commodity.

Demand in china for crude Oil is on the up as the recession slows

Crude Oil is trading at $70.90 as of 9:30am, London Time. Crude Oil’s Pool-Position is 79% Long, meaning that most Finotec clients are buying the commodity.

China’s crude output edged down 0.3 percent in July from a year earlier, a slower decline versus June, the National Statistical Bureau said on Tuesday. China, the world’s fifth-largest crude producer, which pumps half of the oil the country consumes, produced 16.14 million tons in July, or 3.8 million barrels per day. June output was down 1.8 percent year on year. Crude Oil is trading at $70.90 as of 9:30am, London Time. Crude Oil’s Pool-Position is 79% Long, meaning that most Finotec clients are buying the commodity.