Standard Chartered: All-Time-High Demand Will Push Oil To $100 ...Middle East

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Standard Chartered: All-Time-High Demand Will Push Oil To $100
source : OILPRICE ( Middle East ) () 74
U.S. oil futures slipped below $81/bbl on Tuesday after weak economic data out of China prompted surprise interest rate cuts by the People's Bank of China. China's industrial production rose 3.7% in July compared to a year ago, well below the 4.4% increase analysts had predicted while real estate investment in July accelerated to a 8.5%Y/Y decline. Thankfully,oil-specific data came in much more positive, with refiners processing 14.93M bbl/day of crude oil in July, up 31% Y/Y and 40,000 bbl/day higher than the June figure. China…

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