Reported 13 days ago
Crude oil prices have declined as demand forecasts from China continue to weaken, leading to concerns about long-term impacts on the global oil market. CIBC Private Wealth energy trader Rebecca Babin notes that expectations for Chinese demand have been revised downward throughout the year, citing a lack of fiscal stimulus and potential tariffs. Additionally, U.S. oil companies are focusing on profitability amid moderate crude pricing, suggesting that explosive growth in production is unlikely without significant price support.
Source: YAHOO