China objects to OPEC's high crude prices
25 October 2007
China complained that crude oil prices were too high at the Organization of Petroleum Exporting Countries (OPEC) energy roundtable Wednesday, the Reuters reported. A senior policymaker from China's energy bureau said the supply of crude was not a problem, and objected to the high crude oil prices which reached US$90 a barrel last week. Consumption of gas in China has not been affected by rising prices, as Beijing has kept the price at domestic gas stations level since May 2006. Oil prices have risen about 40% from the start of the year due to political tensions in the Middle East and concerns about tighter supplies before winter in the Northern Hemisphere.
Bookmark and Share:
