China's demand for oil is falling sharply and stockpiles of crude and oil products stockpiles are rising as a result of the economic slowdown, China National Petroleum Corp said. "With the spread of the global financial crisis, the impact on China's economy is being gradually felt. Even the company's operations have been adversely affected, particularly since September," CNPC general manager Jiang Jiemin said in a statement. Jiang said prices of chemical products have fallen sharply and prices of oil products are facing downward pressure.
