IEA: China Rebound to Push Oil Demand to New High

摘要

After lifting its tough Covid-19 restrictions, China will drive growth of 1.9 million barrels per day in global oil demand this year, accounting for nearly half of that increase, the International Energy Agency (IEA) predicts. However, in its latest monthly Oil Market Report, the IEA adds that "the shape and speed of [China's] reopening remains uncertain. " The agency estimates that Covid-19 lockdowns caused China's oil demand to fall by 390,000 b/d in 2022, the orst such contraction in its annual demand since 1990.