The Influence of China's Economy Development on the Increase of World Oil Price

While the oil price continues to rise,we can draw on a conclusion by the historical data on oil price and change of supply and demand: Chinese oil demand was not the determinant factor that affects the rising of oil price.China,as a world factory,consumes huge amounts of oil resources,which serves the international market to a larger extent.So,China has mitigated the impulsion that high oil price brought on the global economy.The development of China's economy plays a very important role in the stabilization of the global economy.