China's Stimulus Fails to Boost Oil Demand.

The International Energy Agency (IEA) forecasts that China's oil demand growth will remain weak in 2025. Despite recent stimulus measures by the Beijing government, the country's ongoing electrification of its car fleet and slowing economic growth are contributing factors to this decline in demand. According to Fatih Birol, the Executive Director of the IEA, a Chinese economy growing at a rate of 4% or above would result in decreased energy consumption and, consequently, a reduction in oil demand. Furthermore, the demand for electric vehicles, which have become cost-competitive with conventional cars, is expected to continue growing. The impact of Beijing's fiscal stimulus to revive economic growth has not been as significant as anticipated, leaving limited prospects for a substantial increase in China's oil demand. Global oil prices are currently near $70 per barrel after a 7% decline last week.

IEA Memperkirakan Pasokan Minyak Surplus, Permintaan China Melemah di 2025

China's Economy Gets a Boost: Central Bank Cuts Interest Rates.

In order to stimulate economic growth and prevent a collapse in the housing market, China has reduced lending rates. The one-year benchmark loan prime rate (LPR) has been reduced to 3.10% from 3.35%, while the five-year LPR has been lowered to 3.60% from 3.85%. The reduction is more substantial than anticipated, exceeding the projections of economists surveyed by Bloomberg. The decision to lower the LPR is part of the People's Bank of China's strategy to encourage borrowing and bank lending. Standard Chartered Plc's Head of China Macro Strategy, Beckly Liu, believes that this larger cut reflects the PBOC's commitment to implementing a more rapid easing of monetary policy. The exchange rate of the yuan remained stable, and there was no impact on government bond yields. In summary, this action by China's central bank demonstrates their commitment to providing financial support to the economy.

China Pangkas Suku Bunga Pinjaman demi Genjot Pertumbuhan Ekonomi

Global Uncertainty Dominates IMF and World Bank Meetings.

Global financial leaders are convening in Washington, DC for the annual meetings of the International Monetary Fund (IMF) and the World Bank. The current meetings are occurring against a backdrop of heightened uncertainty surrounding ongoing conflicts in the Middle East and Europe, a sluggish Chinese economy, and concerns about the US presidential election. The meetings are expected to attract over 10,000 attendees, who will engage in discussions on strategies to accelerate global growth, address debt challenges, and finance a transition to green energy. However, the potential victory of US Republican candidate Donald Trump represents the most significant challenge to be addressed. Should Mr. Trump be elected, his proposed policies―including the imposition of significant US tariffs and the diversion of lending away from climate cooperation―have the potential to disrupt the international economic system. While the outcome of the US election is not officially on the agenda, it is a significant topic of discussion at the meetings due to its potential implications for trade policy, the future of the dollar, the chairman of the Federal Reserve, and the US economy.

IMF dan Bank Dunia Gelar Pertemuan Tahunan, Ini yang Akan Jadi Pembahasan