Related Articles
Outlook 2018
Forward article link
Share PDF with colleagues

Chinese bear trap

Oil demand is in for another good year, but gas will be the standout. And the country's oil majors are coming back to the market

For China bears who predicted faltering economic growth and slower growth in energy demand, 2017 showed yet again how dangerous it is to underestimate the strength of the country's economy. Last year turned out to be a much stronger one than many expected, which was a boon for almost all commodities. Whether that represents a newfound stability or yet another counter-cycle on China's path to slower growth is the key question on the mind of most investors going into 2018. While Opec disappointed oil markets in 2017, demand did not. Global demand estimates were revised up significantly to 1.6m barrels a day. Much of this was down to China, which accounted for almost one third of the increment

Also in this section
A Rhum deal: US sanctions threaten North Sea project
24 May 2018
Uncertainty over US sanctions is causing jitters among oil and gas project developers
Iraq: let the bargaining begin
22 May 2018
As Iraq settles in for the sizzling summer heat, the political temperature looks set to stay high well into autumn and possibly winter as well
Gazprom finds it hard to break with Ukraine
18 May 2018
An international court ruling over gas supply contracts has done little to resolve differences between Gazprom and Naftogaz