{"id":1678,"date":"2014-11-16T09:29:58","date_gmt":"2014-11-16T14:29:58","guid":{"rendered":"http:\/\/olduvai.ca\/?p=1678"},"modified":"2014-11-16T09:29:58","modified_gmt":"2014-11-16T14:29:58","slug":"and-the-biggest-winner-from-the-oil-price-plunge-is-zero-hedge","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=1678","title":{"rendered":"And The Biggest Winner From The Oil Price Plunge Is… | Zero Hedge"},"content":{"rendered":"

And The Biggest Winner From The Oil Price Plunge Is… | Zero Hedge<\/a>.<\/p>\n

“The Chinese, among others, seem to be responding to the lower oil price with additional demand,”<\/strong><\/em>\u00a0notes one tanker executive as\u00a0Bloomberg reports<\/a>\u00a0the number of supertankers sailing toward China\u2019s ports matched a record on Oct. 17 and is still close to that level now. The plunge in price has\u00a0enabled China to add 35 million barrels to its inventories<\/strong>\u00a0in the past three months as the nation fills its strategic petroleum reserves, OPEC said yesterday. Furthermore, though the oil slide is hurting nations from Venezuela to Iran – that depend on energy for revenues –\u00a0ship owners serving the industry\u2019s benchmark Middle East-to-Asia trade routes are reaping the best returns from charters in years<\/strong>\u00a0as the slump drives down the industry\u2019s single biggest expense. As one analyst notes, “we’ve seen the Chinese buying a lot from the Middle East and that\u2019s really let rates cook.” So it appears the Chinese, in the face of the worst growth and economy in years, arerational enough to buy more at lower prices<\/strong>\u00a0(as opposed to the buy-more-because-stocks-are-at-all-time-highs Western investors).<\/p>\n

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A near-record 113 tankers are destined for China…<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

And The Biggest Winner From The Oil Price Plunge Is… | Zero Hedge. “The Chinese, among others, seem to be responding to the lower oil price with additional demand,”\u00a0notes one tanker executive as\u00a0Bloomberg reports\u00a0the number of supertankers sailing toward China\u2019s ports matched a record on Oct. 17 and is still close to that level now. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[130,592,1172,600],"class_list":["post-1678","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-china","tag-oil-price","tag-oil-tankers","tag-opec"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1678","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1678"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1678\/revisions"}],"predecessor-version":[{"id":1679,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1678\/revisions\/1679"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}