Summary of Oil stares at a bleak future as China's economy sputters. The good news: A market 'bust' is unlikely
Summary of Oil stares at a bleak future as China's economy sputters. The good news: A market 'bust' is unlikely
The global oil market is facing challenges due to a slowdown in Chinese demand, leading to oversupply and low prices. Experts predict further price declines if demand remains tepid, with estimates suggesting prices could drop to the $50-$60 per barrel range. India is seen as a potential growth driver for oil demand, set to surpass China in demand growth in 2024. Despite concerns, the long-term outlook highlights India's consistent growth compared to China's magnitude of demand.
quoting nevent1q…wrm2Oil stares at a bleak future as China's economy sputters. The good news: A market 'bust' is unlikely
Are oil markets inching towards a bust? That's a key question hanging over industry watchers as they debated the fate of crude at the recent APPEC conference.
https://www.cnbc.com/2024/09/18/are-global-oil-markets-heading-for-a-bust-as-china-optimism-fizzles.html
The global oil market is facing challenges due to a slowdown in Chinese demand, leading to oversupply and low prices. Experts predict further price declines if demand remains tepid, with estimates suggesting prices could drop to the $50-$60 per barrel range. India is seen as a potential growth driver for oil demand, set to surpass China in demand growth in 2024. Despite concerns, the long-term outlook highlights India's consistent growth compared to China's magnitude of demand.