As the world’s largest annual gross crude oil importer in the world since 2017, and before that as the key driver of the broader commodities supercycle, China’s ongoing attempts to resuscitate its economic growth after three years of Covid remain a key factor to oil pricing from here. At the end of last week, with the spectre of a default imminent at China’s largest property developer, Country Garden, Beijing rolled out a series of measures intended to stabilise the situation.
The company has since secured a temporary reprieve…Are China’s Economic Support Measures Too Little Too Late For Oil Prices?
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