China’s Economic Growth Provides Fresh Hope For Oil Demand ...Middle East

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China’s Economic Growth Provides Fresh Hope For Oil Demand
China reported economic growth of 3.9 percent for the third quarter of the year, which was higher than analysts expected and might inject some fresh optimism into oil markets with regard to demand. Covid lockdowns and other restrictions in China have been among the main natural caps on oil prices, due to the country’s size and weight as an oil importer. The impact of these restrictions on business activity and fuel demand has been unequivocally negative, yet the latest economic data suggests it has not been as severe as feared. Still, the…

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