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ICYMI - International Energy Agency raised its global demand outlook - China strong

Analytic Dave

May 16, 2023

Justin had the news on Tuesday:

IEA warns latest oil price drop is running against backdrop of a supply crunch in 2H 2023

Regarding China, the International Energy Agency also raised its global demand outlook. It specifically pointed to strong Chinese demand:

could grow by 2.2mb/d, about 200kb/d more than it previously forecast

On inventory the IEA expect:

will deplete by 2mb/d in H2 this year

Earlier post on China:

MUFG on the weaker data from China weighing on AUD

This article was written by Eamonn Sheridan at www.forexlive.com.

from Forexlive RSS Breaking News Feed https://ift.tt/VBg5sC1

Analytic Dave

AnalyticalDave is a personal financial analysis portfolio that captures my Derivatives trading, stock, and investing journey. My portfolio does NOT act as a financial advisor to any community. It is only purposed for journaling my story as a self-taught trader and investor.

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