China PMI At 50.1, Brent Drops Below $102

Hira Shahnawaz Akhtar

Published onJuly 1, 2013

Updated on May 13, 2021

Over the past decade, China has become the primary driving force behind the demand of any commodity. The manufacturing statistics of China therefore create a significant impact on the global oil prices. China makes up 11.4 percent of the total world oil demand and as a result, its manufacturing numbers are very significant in setting the global oil prices.

China Demands For Oil

Recently, much of China’s demand for oil has been routed to Russia with long-term agreements developed between the two countries for the utilization of Russia’s oil and gas reserves. However currently, most of the oil in China comes from Saudi Arabia and other Middle Eastern nations and hence, China's demand impacts the OPEC prices in particular...

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Hira Shahnawaz Akhtar

Hira is a financial analyst whose expertise lies in commodity and other financial markets. Hira is currently an independent financial consultant and is working with many international firms like American Arab Solutions (AAS). She has previously served as a Senior Research Analyst at Alternate Research (Pvt.) Ltd. as the Team Leader for the International Equities Research. She has also worked as an equities analyst of Pakistani E&P stocks at Invest Capital Markets. She has experience in business development and conducting feasibility studies in commodity markets, specifically in sugar, palm oil and canola oilseeds. She has cleared all three levels of her CFA (Chartered Financial Analyst) and has an undergraduate degree in Finance.

China PMI At 50.1, Brent Drops Below $102

China Demands For Oil

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