Commodity Trade Mantra

Posts Tagged ‘Chinese Crude Oil Imports’

The Biggest Wildcard For Oil Prices Right Now - China

China’s record purchases, along with temporary production outages in Nigeria and Canada, helped rebalance supply and demand in the oil market. However, since that is now over, stopping shipments for the reserve would wipe out about 15% of the country‚Äôs imports & the price of oil would plunge as the already oversupplied market would find itself with an unprecedented glut of excess production.

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