RE:You might want to read up on Evergrande this weekendI do agree with you, things are not well in China. The CCP will probably throw more stimulus at it and kick the can down the road (we seen how that story ends).
But I dont believe the Oil market have ignored any of the warning signs.
Oil has had some large draws recently, including this week, only to see the price go down even lower.
Oil traders seem to be pricing in a real possibility of a hard landing in the economy but at the same time keeping an eye on the stockpiles and daily worldwide demand.
The Saudi's throwing curve balls doesnt make it easier as their "language" is difficult to read.
They can keep "extending, cut even further", who knows?
I wouldnt want to play poker against them.
I noticed this week, three other Opec members sent in more product into the U.S. than the Saudi's.
How long are they going to allow the others to eat their lunch?
Its not a true cartel if one member has to keep doing the heavy lifting.
Will be interesting to see how this all plays out.