Can Anything Replace China As Demand Driver For Oil? ...Middle East

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Can Anything Replace China As Demand Driver For Oil?
source : OILPRICE ( Middle East ) () 9
That the oil-producing world is highly reliant on China's appetite is a fact we are reminded of from time to time. Last year, Chinese buyers dragged oil prices out of the doldrums single-handedly as they stocked up on the cheap commodity to fill reserves. Now, this overreliance is backfiring with prices down and likely to stay down because of China. In all fairness, it is not so much China as it is the resurgence of Covid-19 in China that drove prices sharply down at the start of this week. Benchmarks hit the lowest in three weeks because of the…

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