Why Middle East Producers Cut Prices In The Face Of Soaring Chinese Oil Demand ...Middle East

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Why Middle East Producers Cut Prices In The Face Of Soaring Chinese Oil Demand
source : OILPRICE ( Middle East ) () 14
China is back, and even the most ardent skeptics of Beijing’s policy easing will be compelled to admit that there is great upside in global oil demand in 2023. China has been allocating huge export and import quotas, nudging its oil refiners as hard as possible. Against the background of US economic readings rising quicker than expected and increasing the likelihood of a soft landing, as well as of Europe soon implementing its import ban on Russian products, there are several bullish factors that should push oil prices higher, in fact much…

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