China’s oil market may have something to cheer after changes to COVID measures

摘要

China’s oil and commodity markets may already be breathing a sigh of relief and hoping for a demand revival following the recent adoption of new measures that could send a strong signal to global markets that Beijing may be starting to ease its stringent zero-COVID policy to revive its flagging economic growth and restore normalcy for its citizens. The latest move by Guangzhou, the capital city of Guangdong province, China’s top GDP contributor, prompted commodity markets to seek answers as to whether this could trigger an earlier-than-expected reopening of the entire economy and prompt a demand revival in the world’s second-largest economy and Asia’s biggest oil consumer.