10 March, 2015 at 1:36 am in Business
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A) Increasing oil demand is not only attributable to increased vehicle use in the world largest new car market, but also to industrial activity in China. At current levels i) China PMI is still supportive of industrial activity (Chart 10), ii) China input purchase orders are increasing michael kors discount (chart 11), iii) New export orders are increasing (chart 9), iv) order back log and deliver delays are still high (chart 9). This may cause an upside in China demand, estimated at around 0.3 million barrels per day, which is higher compared to IEA, EIA, Goldman Sachs and Credit Suisse estimates.
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