3. The overwhelming weight of the coverage of the oil market by analysts and commentators concentrates on the supply side and the volumes being produced and exported from Saudi Arabia or elsewhere. Supply is important but costs matter more.
A series of explosions on Aug. 12 that originated in a warehouse illegally storing hazardous chemicals in the port city of Tianjin killed 173 people, injured hundreds and left behind post-apocalyptic scenes of destruction. The blasts raised serious questions about the lax enforcement of safety regulations during China's rapid industrialization.