A Bloomberg piece on the extent of the oil demand shock, citing " people with inside knowledge of the country's energy industry".
- Chinese oil demand has dropped by about three million barrels a day
- or 20% of total consumption
- probably the largest demand shock the oil market has suffered since the global financial crisis … and the most sudden since the Sept. 11 attacks
Late Friday Adam posted on some other factors hitting the oil price:
Stick this all together and you'd have to wonder about the next OPEC+ move.
Emergency meeting? Cut harder?
