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Oil Falls as China Export Growth Slows, IEA Cuts Forecast

Bloomberg -- Oil fell as China’s export growth slowed and the International Energy Agency cut demand forecasts in signs that the global economic recovery is slowing.

Prices declined 0.5 percent as China’s customs bureau reported outbound shipments in July increased 1 percent from a year earlier after an 11 percent rise in June. It was the worst export growth since 2009. The IEA reduced its estimate of 2012 world consumption by 250,000 barrels a day to 89.6 million.



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Submitted Aug 12, 2012 By: SnickersDog
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itzagasgasgas1
Champion Author Cincinnati

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Message Posted: Aug 18, 2012 6:48:14 PM
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old news
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honda0105
Champion Author Tallahassee

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Message Posted: Aug 15, 2012 5:23:15 AM
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Prices at the pump are still rising. And will do so for a while, despite there being no reason.
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sparky808
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Message Posted: Aug 13, 2012 12:25:29 PM
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Thank you for posting.
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cashpayer
Sophomore Author Raleigh

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Message Posted: Aug 13, 2012 12:08:25 AM
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Oh, boo hoo hoo. Do you think prices will go down at the pump? Hell, no. They continue to climb here although oil prices are slowly going down.
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bluegrasser1
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Message Posted: Aug 12, 2012 11:37:29 PM
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ok
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crreed1
Champion Author West Virginia

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Message Posted: Aug 12, 2012 11:37:17 PM
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we still buy
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1fulltank
Champion Author Buffalo

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Message Posted: Aug 12, 2012 11:33:53 PM
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Hasn't fallen enough.
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UseLessGasFolks
Champion Author Iowa

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Message Posted: Aug 12, 2012 11:33:02 PM
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We knew China could not continue to grow at that rate.
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jkpsr
Champion Author New Jersey

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Message Posted: Aug 12, 2012 11:32:10 PM
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China's growth is slowing. Maybe there is some good in this.
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rippinusoff
Champion Author Lexington

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Message Posted: Aug 12, 2012 11:31:46 PM
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really?
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frostyWV
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Message Posted: Aug 12, 2012 11:30:47 PM
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keep on dropping.
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judgemobile
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Message Posted: Aug 12, 2012 11:30:10 PM
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if the recovery (what recovery ?) is slowing, are we on the verge of another September like in 2008 where the world economy came within hours of a complete meltdown ?
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rollercoaster
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Message Posted: Aug 12, 2012 11:28:21 PM
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good
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Thomtec
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Message Posted: Aug 12, 2012 11:28:02 PM
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Ok
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unclenorman
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Message Posted: Aug 12, 2012 11:27:27 PM
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We all know pig oil is out of control.Sure as hell the republicans will do nothing about it.Watch the price jump if nit wit Mitt gets elected.
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Rageagainsttm
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Message Posted: Aug 12, 2012 11:23:47 PM
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good
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lou30
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Message Posted: Aug 12, 2012 11:22:44 PM
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lol. 10k I like your post.
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10k
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Message Posted: Aug 12, 2012 11:21:45 PM
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big_mac64 is correct:

the law of supply and demand died and was buried, when big oil was given free rein..

may it RIP..

[Edited by: 10k at 8/13/2012 12:22:47 AM EST]
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justmedc
Veteran Author Michigan

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Message Posted: Aug 12, 2012 11:21:04 PM
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for sale
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Rooster922
Champion Author Wilmington

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Message Posted: Aug 12, 2012 11:19:37 PM
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Wow! what's that? World consumption, wow
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Vitobug
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ok
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mrbee
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Hope it keeps falling.
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bradley1969
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Message Posted: Aug 12, 2012 11:16:57 PM
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SURE??????
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mfeldstein
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Message Posted: Aug 12, 2012 11:15:51 PM
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Oil companies are killing the world.
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DisMusBeDaPlaz
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Message Posted: Aug 12, 2012 11:15:31 PM
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Are they cutting their throats, or seeking higher revenue from other countries?
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MDTDriver
Champion Author California

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Message Posted: Aug 12, 2012 11:15:29 PM
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Good China down growth is for USA!
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dieselme2011
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kk
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MadDogUSMC
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Message Posted: Aug 12, 2012 11:14:41 PM
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Then why does the price at the pump continue to rise?
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firasatali
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Message Posted: Aug 12, 2012 11:13:04 PM
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ok
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Glock26
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Message Posted: Aug 12, 2012 11:12:57 PM
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Pure Bull!!!
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Saunch2012
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ok
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arb0526
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Message Posted: Aug 12, 2012 11:12:30 PM
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Slowed in China and picked up in America because they keep buying up our country.
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big_mac64
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Message Posted: Aug 12, 2012 11:10:54 PM
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come on folks...supply and demand does NOT work in this country when it comes to oil!
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ratboy1968
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ok
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WebGabe
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Message Posted: Aug 12, 2012 11:10:21 PM
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??
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tml721
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Message Posted: Aug 12, 2012 11:10:05 PM
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Falls?? WHERE???
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greshams
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Message Posted: Aug 12, 2012 11:09:50 PM
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big oil is kicking us right where it hurts.
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rahcat
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Message Posted: Aug 12, 2012 11:09:44 PM
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Don't expect prices to fall anytime soon.
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jferrara41
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ok
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bills299
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Message Posted: Aug 12, 2012 11:08:49 PM
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What a crock!!!
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DirtDauber
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Message Posted: Aug 12, 2012 11:07:33 PM
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Pass it down, please.
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heartbroken2010
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Message Posted: Aug 12, 2012 11:07:29 PM
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supply & demand will rule here.
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jem069
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Message Posted: Aug 12, 2012 11:07:13 PM
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Ok
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Jarol
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Message Posted: Aug 12, 2012 11:06:00 PM
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The market at work.
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boatfloyd
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Message Posted: Aug 12, 2012 11:03:51 PM
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Supply and Demand
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SavALot
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Message Posted: Aug 12, 2012 11:03:42 PM
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Forecasts are apparently powerful
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ManOfLeisureII
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Message Posted: Aug 12, 2012 11:03:27 PM
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So what, who cares.
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PrinceLH
Champion Author Ontario

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Message Posted: Aug 12, 2012 11:03:06 PM
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We are not getting a fair shake at the pumps right now!
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goldseeker
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Message Posted: Aug 12, 2012 11:03:05 PM
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Not really as it is currently at $93.53.
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sneadmd
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Interesting
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