Recent actions by the Chinese government indicate that Chinese oil demand recovery expectations following the lifting of Covid-19-related prevention measures may be too high, Swissbased commodities trader Gunvor said. The Chinese government has set an economic growth target of 5pc for 2023, which is “the usual number which has been there for years”, Frederic Lasserre, global head of research and analysis for Gunvor, told the CERAweek by S&P Global conference in Houston, Texas, but he suggested that growth expectations at that level are “a bit shy” considering that excess savings should be fueling economic growth as lockdowns end.
展开▼
