Chinese bear trap
Oil demand is in for another good year, but gas will be the standout. And the country's oil majors are coming back to the market
For China bears who predicted faltering economic growth and slower growth in energy demand, 2017 showed yet again how dangerous it is to underestimate the strength of the country's economy. Last year turned out to be a much stronger one than many expected, which was a boon for almost all commodities. Whether that represents a newfound stability or yet another counter-cycle on China's path to slower growth is the key question on the mind of most investors going into 2018. While Opec disappointed oil markets in 2017, demand did not. Global demand estimates were revised up significantly to 1.6m barrels a day. Much of this was down to China, which accounted for almost one third of the increment.
Also in this section
10 December 2024
Sector at economic and strategic crossroads, but clear path ahead for midstream additions
30 November 2024
Decades of turmoil have left Iraq’s vast energy potential underutilised, but renewed investment and strategic reforms are transforming it into a key player in the region
29 November 2024
The country's fifth and sixth oil and gas bid rounds have attracted a range of new players with gas as well as oil ambitions—and there’s a seismic shift in the contracting process
28 November 2024
Iraq is charting a new path for its indigenous resources and its youth, hoping to electrify the future with a mix of reforms and modernisation to fuel growth
