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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:3,969 Points:1,598,520 Joined:Aug 2005	Message Posted: Aug 18, 2012 1:48:14 PM Ignore itzagasgasgas1 Report Abuse old news
honda0105 Champion Author Tallahassee Posts:18,610 Points:1,608,545 Joined:Nov 2008	Message Posted: Aug 15, 2012 12:23:15 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:2,998 Points:597,735 Joined:Sep 2011	Message Posted: Aug 13, 2012 7:25:29 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 7:08:25 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:15,933 Points:2,615,620 Joined:Sep 2005	Message Posted: Aug 12, 2012 6:37:29 PM Ignore bluegrasser1 Report Abuse ok
crreed1 Champion Author West Virginia Posts:1,985 Points:2,526,335 Joined:May 2005	Message Posted: Aug 12, 2012 6:37:17 PM Ignore crreed1 Report Abuse we still buy
1fulltank Champion Author Buffalo Posts:7,898 Points:1,543,335 Joined:Nov 2008	Message Posted: Aug 12, 2012 6:33:53 PM Ignore 1fulltank Report Abuse Hasn't fallen enough.
UseLessGasFolks Champion Author Iowa Posts:5,441 Points:1,294,875 Joined:Jul 2007	Message Posted: Aug 12, 2012 6:33:02 PM Ignore UseLessGasFolks Report Abuse We knew China could not continue to grow at that rate.
jkpsr Champion Author New Jersey Posts:4,079 Points:1,101,905 Joined:Jun 2005	Message Posted: Aug 12, 2012 6:32:10 PM Ignore jkpsr Report Abuse China's growth is slowing. Maybe there is some good in this.
rippinusoff Champion Author Lexington Posts:7,403 Points:1,487,775 Joined:May 2007	Message Posted: Aug 12, 2012 6:31:46 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 6:30:47 PM Ignore frostyWV Report Abuse keep on dropping.
judgemobile Champion Author Ohio Posts:7,570 Points:2,445,135 Joined:Nov 2005	Message Posted: Aug 12, 2012 6:30:10 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:567,660 Joined:Jul 2008	Message Posted: Aug 12, 2012 6:28:21 PM Ignore rollercoaster Report Abuse good
Thomtec Champion Author Nashville Posts:2,459 Points:607,170 Joined:May 2011	Message Posted: Aug 12, 2012 6:28:02 PM Ignore Thomtec Report Abuse Ok
unclenorman Champion Author Tampa Posts:1,338 Points:138,300 Joined:Jan 2012	Message Posted: Aug 12, 2012 6:27:27 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:8,298 Points:1,902,005 Joined:Jul 2007	Message Posted: Aug 12, 2012 6:23:47 PM Ignore Rageagainsttm Report Abuse good
lou30 Sophomore Author Miami Posts:187 Points:321,190 Joined:Mar 2011	Message Posted: Aug 12, 2012 6:22:44 PM Ignore lou30 Report Abuse lol. 10k I like your post.
10k Champion Author North Carolina Posts:21,249 Points:2,254,020 Joined:May 2006	Message Posted: Aug 12, 2012 6:21:45 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:174,045 Joined:Mar 2012	Message Posted: Aug 12, 2012 6:21:04 PM Ignore justmedc Report Abuse for sale
Rooster922 Champion Author Wilmington Posts:3,788 Points:656,070 Joined:Jan 2009	Message Posted: Aug 12, 2012 6:19:37 PM Ignore Rooster922 Report Abuse Wow! what's that? World consumption, wow
Vitobug Champion Author El Paso Posts:1,955 Points:639,935 Joined:May 2011	Message Posted: Aug 12, 2012 6:19:27 PM Ignore Vitobug Report Abuse ok
mrbee Champion Author Little Rock Posts:3,753 Points:2,465,610 Joined:Oct 2005	Message Posted: Aug 12, 2012 6:17:10 PM Ignore mrbee Report Abuse Hope it keeps falling.
bradley1969 Champion Author Wisconsin Posts:1,533 Points:330,355 Joined:Mar 2012	Message Posted: Aug 12, 2012 6:16:57 PM Ignore bradley1969 Report Abuse SURE??????
mfeldstein Champion Author Ottawa Posts:8,171 Points:1,930,480 Joined:Feb 2007	Message Posted: Aug 12, 2012 6:15:51 PM Ignore mfeldstein Report Abuse Oil companies are killing the world.
DisMusBeDaPlaz Champion Author Tampa Posts:2,410 Points:567,420 Joined:Sep 2011	Message Posted: Aug 12, 2012 6:15:31 PM Ignore DisMusBeDaPlaz Report Abuse Are they cutting their throats, or seeking higher revenue from other countries?
MDTDriver Champion Author California Posts:9,724 Points:2,154,645 Joined:Jul 2006	Message Posted: Aug 12, 2012 6:15:29 PM Ignore MDTDriver Report Abuse Good China down growth is for USA!
dieselme2011 Champion Author Vancouver Posts:2,594 Points:602,840 Joined:Mar 2011	Message Posted: Aug 12, 2012 6:15:04 PM Ignore dieselme2011 Report Abuse kk
MadDogUSMC Champion Author Jacksonville Posts:20,302 Points:2,870,940 Joined:Apr 2005	Message Posted: Aug 12, 2012 6:14:41 PM Ignore MadDogUSMC Report Abuse Then why does the price at the pump continue to rise?
firasatali Champion Author Toronto Posts:3,095 Points:568,575 Joined:May 2011	Message Posted: Aug 12, 2012 6:13:04 PM Ignore firasatali Report Abuse ok
Glock26 Champion Author Dayton Posts:1,519 Points:631,410 Joined:Mar 2011	Message Posted: Aug 12, 2012 6:12:57 PM Ignore Glock26 Report Abuse Pure Bull!!!
Saunch2012 Veteran Author Pennsylvania Posts:451 Points:111,105 Joined:May 2012	Message Posted: Aug 12, 2012 6:12:38 PM Ignore Saunch2012 Report Abuse ok
arb0526 Champion Author Greensboro Posts:1,971 Points:409,645 Joined:Mar 2011	Message Posted: Aug 12, 2012 6:12:30 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:10,593 Points:1,485,690 Joined:May 2005	Message Posted: Aug 12, 2012 6:10:54 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:2,612 Points:548,050 Joined:Oct 2011	Message Posted: Aug 12, 2012 6:10:29 PM Ignore ratboy1968 Report Abuse ok
WebGabe Champion Author Pennsylvania Posts:2,364 Points:495,645 Joined:Jun 2007	Message Posted: Aug 12, 2012 6:10:21 PM Ignore WebGabe Report Abuse ??
tml721 Champion Author Columbus Posts:12,610 Points:2,389,550 Joined:Jul 2005	Message Posted: Aug 12, 2012 6:10:05 PM Ignore tml721 Report Abuse Falls?? WHERE???
greshams Champion Author Cincinnati Posts:2,004 Points:374,675 Joined:Nov 2011	Message Posted: Aug 12, 2012 6:09:50 PM Ignore greshams Report Abuse big oil is kicking us right where it hurts.
rahcat Champion Author Grand Rapids Posts:2,468 Points:662,200 Joined:Jan 2010	Message Posted: Aug 12, 2012 6:09:44 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 6:09:44 PM Ignore jferrara41 Report Abuse ok
bills299 Champion Author Atlanta Posts:3,366 Points:904,490 Joined:May 2005	Message Posted: Aug 12, 2012 6:08:49 PM Ignore bills299 Report Abuse What a crock!!!
DirtDauber Champion Author San Antonio Posts:6,781 Points:1,627,460 Joined:Nov 2005	Message Posted: Aug 12, 2012 6:07:33 PM Ignore DirtDauber Report Abuse Pass it down, please.
heartbroken2010 Champion Author Ottawa Posts:4,344 Points:897,235 Joined:Aug 2010	Message Posted: Aug 12, 2012 6:07:29 PM Ignore heartbroken2010 Report Abuse supply & demand will rule here.
jem069 Champion Author Detroit Posts:2,538 Points:687,080 Joined:Jan 2011	Message Posted: Aug 12, 2012 6:07:13 PM Ignore jem069 Report Abuse Ok
Jarol Champion Author Iowa Posts:8,423 Points:1,593,140 Joined:Nov 2007	Message Posted: Aug 12, 2012 6:06:00 PM Ignore Jarol Report Abuse The market at work.
boatfloyd Champion Author Jacksonville Posts:1,718 Points:387,975 Joined:Mar 2012	Message Posted: Aug 12, 2012 6:03:51 PM Ignore boatfloyd Report Abuse Supply and Demand
SavALot Champion Author Virginia Beach Posts:8,469 Points:1,710,860 Joined:Apr 2005	Message Posted: Aug 12, 2012 6:03:42 PM Ignore SavALot Report Abuse Forecasts are apparently powerful
ManOfLeisureII Champion Author Philadelphia Posts:1,874 Points:454,150 Joined:Jan 2012	Message Posted: Aug 12, 2012 6:03:27 PM Ignore ManOfLeisureII Report Abuse So what, who cares.
PrinceLH Champion Author Ontario Posts:2,692 Points:538,045 Joined:Jun 2011	Message Posted: Aug 12, 2012 6:03:06 PM Ignore PrinceLH Report Abuse We are not getting a fair shake at the pumps right now!
goldseeker Champion Author West Virginia Posts:19,537 Points:2,717,840 Joined:Sep 2005	Message Posted: Aug 12, 2012 6:03:05 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 6:02:56 PM Ignore sneadmd Report Abuse Interesting