Oil Demand Slows as Economic Fears Outweigh China's Crude Imports
- Long positions in crude oil have decreased due to macroeconomic fears
- Although China imported 13.5% more crude in October than last year, growth was exaggerated by coronavirus restrictions
- Imports slightly up month-on-month but remain below summer levels
- Fall in prices could reflect concerns about global economy and fear-driven market
- India, not China, expected to drive oil demand growth in future