A Bloomberg article about electric buses in China is getting a good amount of mileage (sorry), and rightly so, given its detrimental impact on product demand (hark, ~70kbd this year). While China increases its focus on electric vehicles and takes aim at fuel emissions, it is also becoming a bigger player in the global fuels market, as exports increase amid higher domestic refining activity.
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Crude prices are heading lower again, rounding out a downbeat week, as the expectation of an OPEC production cut extension is more than outweighed by an ongoing lopsided market. As oversupply fears enter the fray once more, hark, here are five things to consider in oil markets today:
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Crude prices are softening for a third consecutive day thus far, as a decent ADP employment report out in the U.S. has boosted expectations from Friday's official employment report, as well as for an interest rate hike. The dollar is looking higher again, while oil prepares itself for a build to crude stocks from the weekly EIA report. Hark, here are five things to consider in oil markets...
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