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Posted AT 7:08 AM EST on 14/07/08

China oil demand unmoved by power woes

CHEN AIZHU

Reuters

BEIJING — China's worsening power woes are all but guaranteed to trigger a surge in imported oil, just as they did in 2004 during the worst crisis in decades, right? Wrong, say experts and industry sources. While the theme is familiar, the circumstances couldn't be more different, suggesting that oil bulls looking for a reason to push crude beyond $150 (U.S.) a barrel will need to look elsewhere.

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