Oil price falls as the effect of Chinese spark on the wane!

[hemanthaa@mail.com + 64]

The oil price started falling again on Friday as the bullish sentiment seems to be as far away as ever, especially when the much-anticipated boom in the Chinese factory activities failed to do the trick.

Although the Chinese economy seems to be on the right track, its tendency to turn to Russian oil at discounted prices is making China irrelevant in the short-term as far as crude oil markets are concerned. India has been doing the same. 

In this context, although China may grow well, its positive impact on the crude oil markets seems to be much smaller than analysts originally believed.

Please read for more here:

[notsonice + 1,078]

On 3/24/2023 at 11:32 AM, hemanthaa@mail.com said:

The oil price started falling again on Friday as the bullish sentiment seems to be as far away as ever, especially when the much-anticipated boom in the Chinese factory activities failed to do the trick.

Although the Chinese economy seems to be on the right track, its tendency to turn to Russian oil at discounted prices is making China irrelevant in the short-term as far as crude oil markets are concerned. India has been doing the same. 

In this context, although China may grow well, its positive impact on the crude oil markets seems to be much smaller than analysts originally believed.

Please read for more here:

Oil demand is in the dumpster.......

Now in a long term terminal decline with a few deadcat bounces....EVs after 2025 insure that Oil will never see a long term rise again

100 Million BPD is the peak.....The need for new refineries is based on what?????

I see all the forecasts for $100 plus brent are being abandoned for 2023.

Even $80 Brent looks like a pipedream for 2023...

aveage price for Brent 2023.........$75 to $80 anything above $80???? requires a new major war or an opec collapse on production

 

The China real estate Bubble has been popped and will take years to unwind....until then the construction boom is China is gone...anyone seeing a real estate construction boom in China before 2030?

Energy demand in China will grow less than renewable energy supply growth and EV production. The dream of a coal or oil demand surge in China is just that a dream.........