China PMI At 50.1, Brent Drops Below $102 - Hedge Fund Alpha (formerly ValueWalk Premium)
China PMI

China PMI At 50.1, Brent Drops Below $102

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...

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