Source:China chemical network Author:Zhu Zhouliang Time:2013-01-21 Read:707second
Along with the economic and financial market continues to rebound, the international oil price is also quietly to close to three digits. Because of China's good economic data, and the International Energy Agency ( IEA ) raised on annual oil demand this year is expected, the international oil price has moved up a rare for six consecutive weeks, a record in the past four months, closing high, New York crude oil futures came to $95.
So far, New York crude oil futures have risen for six consecutive weeks, a record for over a year since the longest continuous rise records. As of 18 closed in New York, New York February crude oil futures rose 0.1%, to $95.56, refresh since mid September 17 week high. At the same time, traded on the Intercontinental Exchange, February Brent crude oil futures contract closed up 0.8%, to $111.89 a barrel. As China and the United States and other major economies growth prospects improved, since November 7th last year, the low count, New York crude oil futures have risen 12%.
Analytic personage points out, Chinese economic data released the latest good, upregulation of IEA oil demand forecasts, and geopolitical factors, has pushed up oil prices.
The latest data show that, with China to promote domestic demand measures to promote industrial production, retail sales and real estate market, Chinese economy appeared for the first time in two years to accelerate growth. According to the National Bureau of statistics report last week, the fourth quarter of last year, China's GDP grew 7.9% over the same period. The median forecast of the Bloomberg survey for the third quarter of last year growth of 7.8%, China 's economy grew by 7.4%.
Analysts believe that, although China 's economic growth rate of 7.8% last year, a record low of 13 years, but the four quarter economic data showed the bottom pick-up posture. In December last year, China 's industrial added value rose by 10.3% over the same period last year, more than expected, while investment in fixed assets in urban areas rose 20.6%.
For China and other major economies expected to stabilize growth based on the International Energy Agency announced rises, the forecast for this year's global oil demand. In the monthly report 2013 oil demand the latest release, IEA upregulation of global oil demand is expected to 240000 barrels, to 90800000 barrels. According to IEA, the world's second largest oil consumer demand in China will increase. China 's infrastructure spending, consumption rises and railway transportation are likely to increase, the growth of petroleum demand support.
Factors of geopolitical recently also bullish crude oil. Last week, militants attacked an oil and gas production plant of the organization of petroleum exporting countries, Algeria, and dozens of hostages were killed. Zhu Zhouliang.