29 Aug, 23

Oil Prices Remain Flat As Supply Shocks Counter Macroeconomic Concerns

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Oil prices continue to trade sideways this week, with supply shocks being counteracted by continued macroeconomic pessimism.Chart of the Week- China has at last issued product export quotas that would enable Chinese refiners to ship their surplus barrels overseas, with state-owned Sinopec getting the highest quota share of all.- According to market sources, China will export around 3.5 million tonnes of oil products in September, with almost half of it coming from jet fuel, a 10% month-on-month increase compared to August allocations.- Just as…

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