China Rate Move Won’t Blunt Oil Demand, Analysts Say

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China’s surprise move to boost interest rates in an attempt to cool down its economy won’t slow oil demand growth in the world’s second-biggest oil consumer, analysts said Thursday.

‘I’s a very small interest rate move amongst a relatively strong economy, so that in itself shouldn’t do anything,’ Lawrence Eagles, an analyst at the Paris-based International Energy Agency, said. ‘The Chinese economy will be more affected by moves that are seen in terms of growth in other developing countries, because of its large export component.’

Schlumberger