The most important factor for oil prices this year (according to the IEA)
- Jun 07, 2023, 7:51 AM CDT
China is expected to account for 60% of global oil demand growth this year, which the IEA currently sees at more than 2 million bpd. “There are many uncertainties, as usual, when it comes to the oil market, and if I have to pick the most important one, it’s China,” Birol told“If the Chinese economy weakens, or growth is much lower than many international economic institutions believe, of course, this can lead to bearish sentiment,” the IEA’s top executive said, noting that China is expected to account for 60% of this year’s global oil demand growth, which the IEA currently sees at more than 2 million barrels per day compared...
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