OPEC Moves to Shore Up Prices After Crude Tumbles Again
Al-Falih might be in for quite a surprise. He expects the world to come back to its old mantra of growth in Asia. But China looks much worse now than just 12 moths ago and we are just at the beginning of their worries. As China has overhyped its growth for way more than a decade now, there is quite an overhang in the system that must release itself onto the market at some point in time. And this will – in turn – give oil consumption a nasty kick in the balls. The lingering downward pressures are still bigger than the upward pressures. Oil will see-saw for years. Whoever cannot adjust quickly will be hurt.
