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China's oil demand rises by 6.2% in September

FXStreet (Łódź) - Independent Analyst Malcolm Graham-Wood comments on data revealing that China's oil demand increased 6.2% in September, above expectations.

Key quotes

"All eyes were on the Chinese GDP data overnight and there was relief that they weren’t bad, in the end slightly beating the whisper at 7.3%."

"Forecasts had centered around 7.2% after last figs of 7.5% but overall not too bad."

"The oil stats were actually better than economists had predicted with oil demand up 6.2% to 10.3m b/d which I am sure will include a degree of stock build."

"Retail gasoline prices in the USA are beginning to show the advantage of the lower crude realisations with gasoline falling sharply again this week. At $3.12 a gallon the price is down 9 cents on the week and is 24 cents a gallon less that this time last year."

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