Oil prices stay low as demand collapses faster than supply shocks
JPMorgan strategists say a sharper‑than‑expected 1 million‑barrel‑per‑day drop in global oil demand this year is the main reason Brent and WTI remain about $20 below their recent wartime highs, despite supply cuts from Middle‑East tensions. The demand slump, led by a rapid cut in Chinese crude imports, is keeping prices subdued.