Sunday, January 17, 2016

Guest Post: You know things are crazy when China thinks oil prices are too low

With no bottom on oil prices in sight, producers given little to cheer about

Even the world's largest petroleum importer thinks oil prices have fallen too low. This week, China set a US$40 per barrel price floor for domestic fuels to protect local producers and curtail the use of cheap fuel. Inconsolable oil investors wish they, too, could conjure up a bottom on oil prices, which have fallen 20 per…