CRUDE SUMMARY: Oil market buoyed by upbeat Chinese economic data

摘要

LONDON (ICIS)--Crude oil futures hit 2019 highs in European morning trading on Wednesday as positive economic data from China washed away some of the demand concerns that had been plaguing the market. The 2019 rally in oil prices has largely seen support from the supply side amid OPEC cuts and US sanctions on Iran and Venezuela. The market has responded well to this new data as it greatly improves the outlook on the demand side of the equation.