COLUMN-U.S.-China talks dominate oil outlook: Kemp | Reuters

COLUMN-U.S.-China talks dominate oil outlook: Kemp | Reuters:

The deadline for the United States and China to reach a trade deal before U.S. tariffs increase on $200 billion worth of Chinese imports (scheduled for March 2) is the most important date in the calendar for oil traders.

The deadline will probably have more impact than the next OPEC+ joint ministerial monitoring committee (March 18), OPEC’s extraordinary meeting (April 17-18) or even the White House review of Iran sanctions waivers (May 4).

The outcome of trade talks will have a decisive influence on the oil consumption outlook for the rest of the year since the threat of tariffs and associated uncertainty are proving the largest drag on global economic growth.