China’s Economic Shift and Its Global Impact on Oil

As China’s economic engine cools, global ripples reach far into the oil markets. The U.S. Energy Information Administration (EIA) reports an anticipated decline in global oil consumption to 104.5 million barrels per day by 2025. This represents a slight dip of 200,000 daily barrels from earlier predictions. This forecast, detailed in their August 6, 2024, […]