China, the world’s largest oil importer, is witnessing a decline in its oil demand faster than previously anticipated. This trend is creating concerns for global oil producers as it could impact market dynamics and revenue projections. A Steeper Decline in Demand According to industry analysts,

International crude oil prices logged their biggest weekly decline in a year, with Brent crude futures falling by 1.87% to $73.06 per barrel and US West Texas Intermediate (WTI) settling 2.05% lower at $69.22 per barrel. Brent crude fell over 7% this week, marking its largest decline since September 2022, while WTI saw an 8% […]