Why China Is Driving Short-Term Oil Prices But OPEC Still Holds The Lever Authored by Charles Kennedy via OilPrice.com, China now drives short-term oil price moves as its opaque import patterns, refinery margins, and strategic stockpiling increasingly shape marginal demand and near-term price discovery. OPEC’s influence has shifted to the medium term. In times of genuine supply stress, pricing power returns to producers. For most of the past decade, oil markets have treated decisions by OPEC as the primary signal for price direction. That hierarchy is being tested, but not overturned. What has changed is where traders look for short-term… — Continue at ZeroHedge News : Read More
