Drumbeat: April 27, 2009

China’s oil demand fell by nearly 6% in Q1 of 2009 China’s oil demand fell by nearly six per cent year-on-year in the first quarter of 2009, Energy Intelligence (EI), the US-based energy advisory firm has said. In a new update, EI said that Chinese net crude imports and domestic production averaged 7.39 million barrels per day. That is 5.6 per cent lower than the corresponding figure in 2009. EI did not take into account stockpiles that the Chinese government has allegedly been buildi