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
Peak demand and oil's long-term trap
19 January 2018
Fixating on the timing of a peak in oil demand is misplaced. Rather, the peak's significance is in shifting the paradigm, from perceived scarcity to perceived abundance. And it poses a problem for low-cost producers
The end is nigh for oil
12 January 2018
Fossil fuel merchants including oil companies are living on borrowed time, argues a new book
US energy: what to watch in 2018
3 January 2018
Oil production, trade, renewables and technology top our list of major questions facing America's energy industry heading into the new year