COLUMN-Oil consumption tracking is all about Asia: Kemp - Reuters:
Oil market analysts must make sense of a bewildering array of statistics about production, consumption and inventories, compiled and published with varying definitions and degrees of accuracy and timeliness.
The challenge is to form an accurate and nuanced picture of the whole market capable of generating useful forecasts, without becoming lost in the insignificant details.
The World Bank identifies around 200 economies in the world, but on the consumption side, at least, only a handful are individually important for market analysis.
The oil market is best thought of as a complex adaptive system (“Persistence of instability in the oil market”, Reuters, Sept. 15, 2016).
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