Rising demand for oil in China and India, geopolitical risks increasing.

From Investing.com: 2024-12-02 10:27:00

Oil demand is rising in China and India, offsetting concerns about OPEC Plus meeting delay. Producers are eager to open the spigot to capitalize on investments. Energy World reports robust fuel consumption in India. China’s business activity continues to improve, with the official purchasing managers index rising to 50.3 in November. Geopolitical risks are high with conflicts in Israel, Lebanon, and Syria. NPR reports on Syrian rebels attempting to take control from Bashar al-Assad. Oil markets are expected to see drawdowns in inventories with cold weather supporting prices. Natural gas prices in the US are falling due to warmer weather forecasts, while Europe faces energy infrastructure concerns amid cold temperatures.



Read more at Investing.com: The Energy Report: Demand Coming Back