Surging Covid Cases Set To Hurt China’s Oil Demand In 2023 ...Middle East

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Surging Covid Cases Set To Hurt China’s Oil Demand In 2023
source : OILPRICE ( Middle East ) () 40
Oil demand in China could be very weak at the start of the year as manufacturing activity in the world’s top crude oil importer plunged the most since the early days of the pandemic in February 2020, amid soaring Covid cases after China ditched its ‘zero Covid’ policy. The Chinese purchasing managers’ index (PMI) slumped to 47.0 in December from 48.0 in November, per data from the National Bureau of Statistics (NBS), which fell below the expectations of economists in a Reuters poll. The 50-point mark in the index separates…

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