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China's falling oil demand helps limit global price increases
Interest.co.nz · World
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- Oil prices rose past US$100 a barrel for the first time since May after Saudi Arabia's East-West pipeline was bombed.
- China's oil demand is set to fall for the third successive year due to earlier stockpiling and a shift to electric vehicles.
- Drone strikes on September 10-11 damaged Saudi pipeline pumping stations, forcing Aramco to shut the pipeline as a precautionary measure.
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