Eric Nuttallon BNN this morning @6:35 am PST. to bad no questions from shareholders lol. my guess he is there to pump oil, it is to bad they do not have mike mcglone on at the same time to let people know what is really going on hahaha.
weaker-than-expected Chinese economic signals. Chinese inflation barely grew in April, while inflation shrank to 2020-lows as an economic rebound in the country sputtered.
Data earlier this week showed that oil shipments to the world’s largest crude importer shrank in April, signaling that demand in China remained weak. A swathe of weak Chinese economic readings in recent months saw traders question whether an economic recovery in the country will drive oil demand to record highs this year.
An overall rise in , coupled with scant signals from the government that it plans to refill its Strategic Petroleum Reserve, also left oil prices with little support.
Oil prices are trading about 10% lower for the year on concerns that worsening economic conditions will erode demand this year.