Chinese economic data continues to impress and improve. Therefore, the improving energy demand outlook from the world’s swing-demand center has enabled crude oil prices to climb above $95 per barrel, targeting $100. There has rightly been a focus on the increase in US oil production, which is now back above 7 million bpd for the first time in 20 years. But the Saudis have met the challenge by cutting back production in a sizeable way.
Energy Overview — TotalView™ of the Energy Markets