Oil Rig Seventy-two years after Marvin Camras patented the wire recorder, and movement in the oil market today is being dictated by hopes of stronger supply (production returning from outages) and firm demand (echoed by the OPEC report) – all amid a backdrop of economic concerns. Hark, here are six things to consider today in energy markets. 1) First up, we’ve had a couple of key economic releases out of China overnight; retail sales were slightly below consensus, coming in at +10.0 percent YoY for May (versus 10.1 percent). Offsetting this, industrial production came in better than expected at +6.0 percent YoY for May (versus 5.9 percent), holding at the same level as the month prior. Fixed asset investment has continued to drop on a year-over-year basis, now only +9.6 percent – the slowest pace of growth in fifteen years. There’s little else in the way of other global […]