Chinese travel boom fueling oil-price rise – analyst ...News

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Chinese travel boom fueling oil-price rise – analyst
Higher jet fuel and gasoline consumption will boost Beijing’s demand for oil in the fourth quarter, the Black Gold CEO says Oil prices may surge to $100 per barrel by the end of the year, driven by a swift recovery in China’s tourism sector coupled with lower supply from major producers, according to the CEO of Black Gold Investors. Speaking at the Asia Pacific Petroleum Conference (APPEC) in Singapore on Monday, Gary Ross noted that domestic flights in China have reached 110% of their pre-pandemic levels, up from about 75% in the fourth quarter of last year. International flights have also rebounded, from close t

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