Crude oil stockpiles fall 2.8 million barrels

Crude oil inventories declined by 2.8 million barrels for the week ending July 10, at 344.5 million barrels, the Department of Energy said on its weekly report on U.S. stockpiles on Wednesday.

U.S.-China agree on Clean Energy Research Center

The United States and China agreed to develop a joint Clean Energy Research Center that will focus on building energy efficiency, clean coal including carbon capture and storage, and clean vehicles. Each country pledged $15 million to support initial activities, the Department of Energy said.

China Shenhua coal production jumped 17.6 percent

The world's largest coal producer by market value, China Shenhua Co., said its commercial coal production rose to 105.8 million tonnes in the first half of 2009, an increase of 17.6 percent from a year ago.