China’s stellar rise from backwater to economic and technological powerhouse has dramatically transformed the world’s energy markets. Especially the oil sector has been affected due to the Middle Kingdom’s impressive growth in demand. Size matters when you’re a large producer or importer. In 2017 China dethroned the U.S. as the world’s largest importer of the most important commodity. While the Asian country’s economic expansion is an opportunity for producers, traders have a much harder time when it comes to deciding on a fair price based on simple supply and demand principles. For decades the preeminence of the U.S. as the world’s biggest consumer and importer of oil satisfied traders’ desire for detailed information to determine the price of oil. Until recently China wasn’t able to match the same level of exposure. However, technological developments have improved the availability of timely data that is more complete and trustworthy. China’s effort […]