Weekly Fundamentals - China Continues to Support Oil Demand Growth

Financial leaders showed deliberation in preventing global economy from returning to recession. After announcing joint action to enhance liquidity support to the global financial system on December, central banks also moved unilaterally to stimulate the market. The ECB lowered the main refinancing rate by -25 bps to 1.0% and announced several new easing measures to ease liquidity tension. However, the market were disappointed by President Draghi's comments that ECB's bond purchases would only be temporary and limited. The next key event would be the EU summit.

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Weekly Fundamentals - China Continues to Support Oil Demand Growth