At the market opening this week, on October 13, 2024, oil prices dropped by more than 1.5% due to concerns triggered by disappointing inflation data from China and the lack of clarity in its economic stimulus plans.
The low economic growth in China and the insufficiency of its fiscal stimuli have generated skepticism about its economic recovery, leading to a projected decrease in oil demand that negatively impacts crude prices.
Analysts are closely monitoring China's economic decisions, as any sign of revival or stagnation in its economy could directly impact oil prices, overshadowing concerns about geopolitical tensions in the Middle East.
Despite geopolitical tensions in the Middle East, the uncertainty over China's economic future has had a greater influence on investor decisions, reflecting the direct relationship between oil demand and the Chinese economy.
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