RE:ALERT! Car sales in China up 11%, yeah, sure a "slowdown"..
I didn't buy into the China slowdown in January and I'm making a fortune on that. Everyone has very short memories. Since then, they've had record imports of metals and oil. Importing metals to create massive reservoirs that will dwaft the US ones at Cushing.
They aren't about to stop buying oil, on the contrary, they need it for transportation, industry and to fill these massive reservoirs they are building to store all the cheap oil they are buying at these prices.
Demand is soring everywhere and production is shrinking. Massive off-shore oil projects planned and which large companies like Shell has spent billions on are have been cancelled with leases returned to the US because they are worthless if oil stays below $100.
And the markets are focussed on Brexit. I agree with some that the short sighted "players" will lose out because they fail to look at the "big picture".