Oil held in check as Chinese economy offsets trade optimism

Financial Post | Jan 17, 2020 at 1:26 PM
  • Oil prices edged higher on Friday but were little changed on the week as sluggish economic growth in China, the world’s biggest crude importer, raised concerns over fuel demand and countered optimism from the signing of a China-U.S. trade deal.
  • Surging Chinese demand, as seen in refinery throughput figures, offset the less positive economic growth data.
  • The International Energy Agency (IEA) on Thursday offered a bearish view of the oil market outlook for 2020.