Reported 28 days ago
Rob Thummel, senior portfolio manager, expressed that China's weak oil demand isn't a serious issue, stating global demand remains strong, possibly exceeding one million barrels per day. Although Chinese consumption has decreased, increases in the US, Saudi Arabia, and other emerging markets may counterbalance this decline. Thummel anticipates that Chinese demand could recover in the latter half of 2024, potentially leading Brent crude prices to reach the high $70s to low $80s.
Source: YAHOO