China's Factory Slowdown Raises Questions for Global Oil Market

📆 01/07/2024 04:15 a. m.
📰 OilandEnergy

⏱ Reading Time:
17 sec. here
11 min. at publisher
📊 Quality Score:
News: 41%
Publisher: 68%

China Noticias

Manufacturing,PMI,Oil Price

China's factory activity showed signs of slowing down, but strong exports and global oil demand may offset this.

Factory activity in China slowed down further last month, with the country’s statistics bureau reporting a PMI reading of 49.5—the lowest in five months, Reuters noted in a report. However, a private PMI reading, calculated by S&P Global, showed an uptick in manufacturing activity among smaller companies, Reuters reported separately, with the increase attributed to strong overseas orders.

Energy Information Administration report that revealed oil production and demand in April had jumped to a four-month high, with demand specifically rising to 20 million barrels daily. The slowdown in Chinese factory activity may dampen some of that enthusiasm but the effect may not be lasting in light of such demand figures.

Hemos resumido esta noticia para que puedas leerla rápidamente. Si estás interesado en la noticia, puedes leer el texto completo aquí. Leer más:

Escribir Comentario

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

KPMG to cut further 200 UK jobs amid market slowdownBig Four firm has carried out review of cost base and is also facing a drop in number of staff leaving
Fuente: FT - 🏆 113. / 51 Leer más »