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As China's economy becomes more consumer-oriented, the rate of growth in oil demand in the country is expected to slow down through 2023, a recent report said.
As China's largest trade fair, it attracts businessmen from around the world.
As China promotes green development, clean energy－including wind, solar and nuclear power－is thriving in the country, reducing dependence on coal.
Around 1500 GMT, WTI pulled back to .82 per barrel but was still down almost 41 percent compared with Friday. The fall is severe as it concerns the May contract due to expire later Monday and investors don't want to take physical possession of the oil, traders said.
As China, the world's biggest energy consumer, looks to further diversify its crude supply, the US is likely to be one of these sources due to its rich oil and gas resources.
