Energy OverView May 30, 2013

Crude oil prices are falling further, building upon yesterday’s losses. The IMF and OECD cut their economic forecast for China’s growth rate, and oil prices took that news hard. We often refer to China as the swing-demand center much as Saudi Arabia is the world’s swing producer, being a price maker in terms of its supply activity. China is not really trying to slow or, at least, slow as much as forecast.