I agree that China shows some weakness. But there is a good chance that we see a chinese comeback story as well in the future.
In the past the USA, Japan were the biggest importers of crude oil. Some years ago China became the biggest oil importer globally.
Today we see a rising India. This country became the biggest oil importer globally this year and raising India should compensate some percentage of the chinese loss.
India has no big oil production and no big gas production. Looking into the foggy cristall ball, India could import more oil and LNG in the future.
EEG Price at posting:
24.0¢ Sentiment: Hold Disclosure: Held
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