China’s economy seen hurt if oil prices above 80 usd/barrel – official

The price of crude oil at over 80 usd per barrel will impact negatively on China’s economy, a senior government official said.

The vice-director of the State Council’s State Energy Office, Xu Dingming, told reporters at an industry conference that China and India are the two largest oil consumption countries in the world and higher oil prices will hurt the countries’ economies.