China oil demand may shrink first time since 2002 as covid curbs bite – by anilpanchal7 China Oil NewsTrading RiskAppetite Coronavirus
Key quotes
Lockdowns in key cities such as financial hub Shanghai already hurt China's oil demand in the second quarter while recovery for the rest of the year is expected to be slow as China sticks to its zero-COVID policy. This could cap intake of the world's top crude oil importer and dent global oil prices.
As of Aug. 31, bookings for domestic air travel during the holiday are 38.5% lower than 2021, data tracked by ForwardKeys showed, while flight bookings for Golden Week travel are expected to fall by 23.8% from last year.
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