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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 Posts:4,109 Points:1,626,745 Joined:Aug 2005	Message Posted: Aug 18, 2012 4:48:14 PM Ignore itzagasgasgas1 Report Abuse old news
honda0105 Champion Author Tallahassee Posts:18,828 Points:1,637,220 Joined:Nov 2008	Message Posted: Aug 15, 2012 3:23:15 AM Ignore honda0105 Report Abuse Prices at the pump are still rising. And will do so for a while, despite there being no reason.
sparky808 Champion Author Honolulu Posts:3,139 Points:624,685 Joined:Sep 2011	Message Posted: Aug 13, 2012 10:25:29 AM Ignore sparky808 Report Abuse Thank you for posting.
cashpayer Sophomore Author Raleigh Posts:147 Points:81,395 Joined:Feb 2012	Message Posted: Aug 12, 2012 10:08:25 PM Ignore cashpayer Report Abuse 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.
bluegrasser1 Champion Author Richmond Posts:16,075 Points:2,643,320 Joined:Sep 2005	Message Posted: Aug 12, 2012 9:37:29 PM Ignore bluegrasser1 Report Abuse ok
crreed1 Champion Author West Virginia Posts:2,100 Points:2,550,715 Joined:May 2005	Message Posted: Aug 12, 2012 9:37:17 PM Ignore crreed1 Report Abuse we still buy
1fulltank Champion Author Buffalo Posts:8,041 Points:1,571,970 Joined:Nov 2008	Message Posted: Aug 12, 2012 9:33:53 PM Ignore 1fulltank Report Abuse Hasn't fallen enough.
UseLessGasFolks Champion Author Iowa Posts:5,586 Points:1,323,550 Joined:Jul 2007	Message Posted: Aug 12, 2012 9:33:02 PM Ignore UseLessGasFolks Report Abuse We knew China could not continue to grow at that rate.
jkpsr Champion Author New Jersey Posts:4,207 Points:1,127,915 Joined:Jun 2005	Message Posted: Aug 12, 2012 9:32:10 PM Ignore jkpsr Report Abuse China's growth is slowing. Maybe there is some good in this.
rippinusoff Champion Author Lexington Posts:7,538 Points:1,514,500 Joined:May 2007	Message Posted: Aug 12, 2012 9:31:46 PM Ignore rippinusoff Report Abuse really?
frostyWV Champion Author West Virginia Posts:2,339 Points:519,235 Joined:May 2011	Message Posted: Aug 12, 2012 9:30:47 PM Ignore frostyWV Report Abuse keep on dropping.
judgemobile Champion Author Ohio Posts:7,705 Points:2,472,635 Joined:Nov 2005	Message Posted: Aug 12, 2012 9:30:10 PM Ignore judgemobile Report Abuse 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 ?
rollercoaster All-Star Author Hartford Posts:502 Points:567,960 Joined:Jul 2008	Message Posted: Aug 12, 2012 9:28:21 PM Ignore rollercoaster Report Abuse good
Thomtec Champion Author Nashville Posts:2,600 Points:635,395 Joined:May 2011	Message Posted: Aug 12, 2012 9:28:02 PM Ignore Thomtec Report Abuse Ok
unclenorman Champion Author Tampa Posts:1,479 Points:166,855 Joined:Jan 2012	Message Posted: Aug 12, 2012 9:27:27 PM Ignore unclenorman Report Abuse 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.
Rageagainsttm Champion Author Tampa Posts:8,422 Points:1,927,885 Joined:Jul 2007	Message Posted: Aug 12, 2012 9:23:47 PM Ignore Rageagainsttm Report Abuse good
lou30 Sophomore Author Miami Posts:190 Points:345,150 Joined:Mar 2011	Message Posted: Aug 12, 2012 9:22:44 PM Ignore lou30 Report Abuse lol. 10k I like your post.
10k Champion Author North Carolina Posts:21,485 Points:2,281,720 Joined:May 2006	Message Posted: Aug 12, 2012 9:21:45 PM Ignore 10k Report Abuse 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]
justmedc Veteran Author Michigan Posts:382 Points:174,495 Joined:Mar 2012	Message Posted: Aug 12, 2012 9:21:04 PM Ignore justmedc Report Abuse for sale
Rooster922 Champion Author Wilmington Posts:3,925 Points:682,795 Joined:Jan 2009	Message Posted: Aug 12, 2012 9:19:37 PM Ignore Rooster922 Report Abuse Wow! what's that? World consumption, wow
Vitobug Champion Author El Paso Posts:1,979 Points:662,440 Joined:May 2011	Message Posted: Aug 12, 2012 9:19:27 PM Ignore Vitobug Report Abuse ok
mrbee Champion Author Little Rock Posts:3,894 Points:2,493,530 Joined:Oct 2005	Message Posted: Aug 12, 2012 9:17:10 PM Ignore mrbee Report Abuse Hope it keeps falling.
bradley1969 Champion Author Wisconsin Posts:1,673 Points:358,055 Joined:Mar 2012	Message Posted: Aug 12, 2012 9:16:57 PM Ignore bradley1969 Report Abuse SURE??????
mfeldstein Champion Author Ottawa Posts:8,301 Points:1,956,230 Joined:Feb 2007	Message Posted: Aug 12, 2012 9:15:51 PM Ignore mfeldstein Report Abuse Oil companies are killing the world.
DisMusBeDaPlaz Champion Author Tampa Posts:2,545 Points:594,895 Joined:Sep 2011	Message Posted: Aug 12, 2012 9:15:31 PM Ignore DisMusBeDaPlaz Report Abuse Are they cutting their throats, or seeking higher revenue from other countries?
MDTDriver Champion Author California Posts:9,848 Points:2,180,900 Joined:Jul 2006	Message Posted: Aug 12, 2012 9:15:29 PM Ignore MDTDriver Report Abuse Good China down growth is for USA!
dieselme2011 Champion Author Vancouver Posts:2,726 Points:628,590 Joined:Mar 2011	Message Posted: Aug 12, 2012 9:15:04 PM Ignore dieselme2011 Report Abuse kk
MadDogUSMC Champion Author Jacksonville Posts:20,482 Points:2,899,390 Joined:Apr 2005	Message Posted: Aug 12, 2012 9:14:41 PM Ignore MadDogUSMC Report Abuse Then why does the price at the pump continue to rise?
firasatali Champion Author Toronto Posts:3,230 Points:589,300 Joined:May 2011	Message Posted: Aug 12, 2012 9:13:04 PM Ignore firasatali Report Abuse ok
Glock26 Champion Author Dayton Posts:1,654 Points:658,135 Joined:Mar 2011	Message Posted: Aug 12, 2012 9:12:57 PM Ignore Glock26 Report Abuse Pure Bull!!!
Saunch2012 Veteran Author Pennsylvania Posts:451 Points:113,355 Joined:May 2012	Message Posted: Aug 12, 2012 9:12:38 PM Ignore Saunch2012 Report Abuse ok
arb0526 Champion Author Greensboro Posts:2,112 Points:437,345 Joined:Mar 2011	Message Posted: Aug 12, 2012 9:12:30 PM Ignore arb0526 Report Abuse Slowed in China and picked up in America because they keep buying up our country.
big_mac64 Champion Author Tennessee Posts:10,600 Points:1,490,130 Joined:May 2005	Message Posted: Aug 12, 2012 9:10:54 PM Ignore big_mac64 Report Abuse come on folks...supply and demand does NOT work in this country when it comes to oil!
ratboy1968 Champion Author Montreal Posts:2,757 Points:576,725 Joined:Oct 2011	Message Posted: Aug 12, 2012 9:10:29 PM Ignore ratboy1968 Report Abuse ok
WebGabe Champion Author Pennsylvania Posts:2,505 Points:523,345 Joined:Jun 2007	Message Posted: Aug 12, 2012 9:10:21 PM Ignore WebGabe Report Abuse ??
tml721 Champion Author Columbus Posts:12,747 Points:2,416,275 Joined:Jul 2005	Message Posted: Aug 12, 2012 9:10:05 PM Ignore tml721 Report Abuse Falls?? WHERE???
greshams Champion Author Cincinnati Posts:2,149 Points:403,290 Joined:Nov 2011	Message Posted: Aug 12, 2012 9:09:50 PM Ignore greshams Report Abuse big oil is kicking us right where it hurts.
rahcat Champion Author Grand Rapids Posts:2,681 Points:689,900 Joined:Jan 2010	Message Posted: Aug 12, 2012 9:09:44 PM Ignore rahcat Report Abuse Don't expect prices to fall anytime soon.
jferrara41 All-Star Author Pennsylvania Posts:598 Points:110,665 Joined:Apr 2012	Message Posted: Aug 12, 2012 9:09:44 PM Ignore jferrara41 Report Abuse ok
bills299 Champion Author Atlanta Posts:3,506 Points:932,190 Joined:May 2005	Message Posted: Aug 12, 2012 9:08:49 PM Ignore bills299 Report Abuse What a crock!!!
DirtDauber Champion Author San Antonio Posts:6,922 Points:1,655,160 Joined:Nov 2005	Message Posted: Aug 12, 2012 9:07:33 PM Ignore DirtDauber Report Abuse Pass it down, please.
heartbroken2010 Champion Author Ottawa Posts:4,485 Points:925,235 Joined:Aug 2010	Message Posted: Aug 12, 2012 9:07:29 PM Ignore heartbroken2010 Report Abuse supply & demand will rule here.
jem069 Champion Author Detroit Posts:2,679 Points:714,780 Joined:Jan 2011	Message Posted: Aug 12, 2012 9:07:13 PM Ignore jem069 Report Abuse Ok
Jarol Champion Author Iowa Posts:8,566 Points:1,620,840 Joined:Nov 2007	Message Posted: Aug 12, 2012 9:06:00 PM Ignore Jarol Report Abuse The market at work.
boatfloyd Champion Author Jacksonville Posts:1,858 Points:415,675 Joined:Mar 2012	Message Posted: Aug 12, 2012 9:03:51 PM Ignore boatfloyd Report Abuse Supply and Demand
SavALot Champion Author Virginia Beach Posts:8,618 Points:1,738,435 Joined:Apr 2005	Message Posted: Aug 12, 2012 9:03:42 PM Ignore SavALot Report Abuse Forecasts are apparently powerful
ManOfLeisureII Champion Author Philadelphia Posts:2,010 Points:480,875 Joined:Jan 2012	Message Posted: Aug 12, 2012 9:03:27 PM Ignore ManOfLeisureII Report Abuse So what, who cares.
PrinceLH Champion Author Ontario Posts:2,832 Points:565,745 Joined:Jun 2011	Message Posted: Aug 12, 2012 9:03:06 PM Ignore PrinceLH Report Abuse We are not getting a fair shake at the pumps right now!
goldseeker Champion Author West Virginia Posts:19,755 Points:2,746,515 Joined:Sep 2005	Message Posted: Aug 12, 2012 9:03:05 PM Ignore goldseeker Report Abuse Not really as it is currently at $93.53.
sneadmd Sophomore Author Dayton Posts:217 Points:221,975 Joined:Feb 2012	Message Posted: Aug 12, 2012 9:02:56 PM Ignore sneadmd Report Abuse Interesting