China seems to singularly have the greatest affect on crude prices. However, it takes a great deal of research to really understand this animal of a different color. Its demand, on a global level, has many different influences that the average English speaker (Westerners, in particular) may be aware of or understand. Maybe the answer is to think kike a Canadian, or like an Australian. These two economies, or cultures seem to be more directly attached to the Chinese market, at least from my experience. As a relative newbie, though, to the oil industries happenings, this will take some real work.
What are the major factors affecting Chinese supply and demand for oil? What are their politics? Who are the allies?
More to come.