Related Articles
Forward article link
Share PDF with colleagues

The market can't count on a Chinese rescue as prices fall

The markets are desperate for some good news. The oil price has fallen further and faster than nearly anyone thought possible a couple months ago

Wall Street can't cut its forecasts fast enough. Oil companies are laying off workers by the thousands and taking the axe to their budgets. Hard times have hit the oil patch once again. China, with its seemingly insatiable thirst for oil, has been a reliable source of good news for oil markets for years. Over the last decade, China has accounted for about half of new global oil demand, sucking in barrels from all corners of the globe, and helping to fuel an unprecedented bull run for the oil price. After the 2008 financial crisis, it was strong Chinese demand growth that helped to drag oil prices up off the floor. But China isn't going to ride to the rescue this time. The country's economy

Also in this section
The price is right
5 April 2018
With the help of thirsty consumers and collapsing Venezuelan output, the market seems at last to have found its range
Opec and IEA bristle at Trump's trade posturing
16 March 2018
The IEA and Opec say Trump’s trade plans are a threat to global growth
Five key takeaways from the big three oil market reports
15 March 2018
Demand and supply data still diverge, Venezuela’s increasingly critical to balances, and some macro alarm bells are starting to ring