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
Rosneft Oil Co.'s Tuapse refinery faced oil demand concerns at the Asia Pacific Petroleum Conference. China's slowing consumption led to U.S. crude price drops. Oversupply prompted OPEC+ output hike delays. Goldman Sachs predicted potential crude price falls to $50 if China demand remains weak. Trafigura highlighted China's impact on global oil consumption, foreseeing possible price drops. India emerges as a potential oil demand driver due to projected growth surpassing China. Experts differ on India's ability to match China's historic demand growth.
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
Rosneft Oil Co.'s Tuapse refinery faced oil demand concerns at the Asia Pacific Petroleum Conference. China's slowing consumption led to U.S. crude price drops. Oversupply prompted OPEC+ output hike delays. Goldman Sachs predicted potential crude price falls to $50 if China demand remains weak. Trafigura highlighted China's impact on global oil consumption, foreseeing possible price drops. India emerges as a potential oil demand driver due to projected growth surpassing China. Experts differ on India's ability to match China's historic demand growth.