China’s Oil Imports Set To Soar Despite Slow Start To 2023If no can see whats happening to the bullish factors of the Oil market I'll spell it out, Not good. we heard the same story last 8 months, Oil heading back over $100 but this has been pushed back for 12 - 18 months if it happens but regardless of years end what is bullish right now? usually you buy stocks knowing that Oil would rise bullishly but I just cant see it happening with Russia still dumping plus recession is the word of the day and China is a failure at this point and I dont see China hitting 50% global Oil demand its more like 30% with Europe and US contracting
- Despite Beijing setting its lowest annual economic growth target in decades, China’s oil imports are expected to pick up later this year.
- China’s crude oil imports for January and February were down by 1.3% compared to the same months in 2022.
- Despite a weak start to the year, analysts still expect the country’s oil imports to hit a record high by the end of the year.
China’s Oil Imports Set To Soar Despite Slow Start To 2023 | OilPrice.com