Ambrose Evans-Pritchard has always been a bit of a bear porn favourite but his muddled thoughts on China have done nobody any favours and today oil gets the same treatment:
The OPEC oil cartel will be forced to call an emergency meeting within weeks to stabilise the market if crude prices fail to rebound after crashing to eight-year lows of $US35 a barrel, two member states have warned.
Emmanuel Kachikwu, Nigeria’s oil minister and OPEC president until last week, said the cartel was still hoping the oil market would recover by February as low prices squeeze out excess production from US shale, Russia and the North Sea. But nerves are beginning to fray.
