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Here’s Why Oil's Outlook Could Be Even Bleaker Than Expected

  • ‘It feels like demand is very, very weak’: Energy Aspects
  • Hengli’s new China refinery offering deep gasoline discounts
oil rig sun social
Photographer: Derick E. Hingle/Bloomberg
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As storm clouds gather over the world’s top oil-consuming region, OPEC and its allies would be advised to pay close attention as they prepare to make a key decision on output curbs early next month.

While the Saudi Arabian-led efforts to restrain supply amid surging North American shale production have hogged headlines, a sense of malaise is quietly creeping across Asia. With the U.S.-China trade war now almost a year old and showing no signs of ending, its impact is manifesting itself in everything from profit warnings by Japanese car makers to sagging Chinese diesel consumption.