Article

2019-08-14 International-UN-NGOs

Oil prices fall on demand concerns, rising US output

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Posted by Fred 2019-08-14 00:00|| || Front Page|| [13 views ] Top

#1 China’s central bank lowered its official yuan midpoint for the ninth straight day to a fresh 11-year low on Tuesday. A weaker yuan raises the cost of dollar-denominated oil imports into China, the world’s biggest crude oil importer.

This is one of the factors preventing China from major yuan devaluation; the Chinese military uses a lot of oil and they have a budget.

Posted by lord garth 2019-08-14 02:52|| 2019-08-14 02:52|| Front Page Top

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