China’s Oil Demand Is Finally Bouncing Back

Oil demand in China is about to start recovering after the end of Covid restrictions, Reuters has reported, citing Chinese industry officials. Lockdowns in the world’s second-largest oil consumer earlier this year dampened demand and weighed on prices and price outlooks because of Beijing’s zero-Covid policy. Because of the lockdowns, demand for oil in China is expected to have shrunk this year for the first time in 20 years. "We look at high frequency data like airlines bookings, road congestion, consumption, and we see a little better…