Quiet Roads In China Are Concern For Oil Markets

Traffic congestion in Beijing has declined by 30 percent over the past week, and is falling in other parts of the country as well, as the spread of a new coronavirus variant gains traction, threatening the outlook for oil demand, Bloomberg reports. There have been multiple outbreaks across the country, and the situation remains uncertain, Vice-premier Sun Chunlan said earlier this week, as quoted by state news agency Xinhua. As with the previous outbreak, which China stifled with a complete lockdown, the rise in infections is affecting movement…