Letter from China: Rebounding demand meets economic headwinds
Opec+ and the IEA have both revised up 2023 forecasts for Chinese oil demand in recent weeks
The swift recovery in China’s urban commuter traffic and supply-chain logistics after Beijing abandoned pandemic restrictions two months ago has raised hopes of a strong economic rebound. But the real impact is unlikely to be seen for some time yet. China’s dramatic reopening has been rapid but bumpy, with infections still sweeping the nation. But this year’s week-long Lunar New Year public holiday—which began on 23 January—is unique in that vast swathes of the population are no longer under Covid travel restrictions or lockdowns for the first time since the pandemic began. This relative freedom—combined with major Chinese cities, including Beijing and Shanghai, emerging from peak infections

Also in this section
21 May 2025
OPEC and IEA split on oil demand outlook and even diverge on supply risks, with huge implications for market sentiment
20 May 2025
Petroleum Economist is proud to be an official media partner for the 9th OPEC International Seminar in Vienna
20 May 2025
Integrated refining and petrochemicals company highlights strategic flexibility amid trade war risks and long-term planning to futureproof business, says CEO Prabh Das
20 May 2025
Mediterranean-focused gas producer looks to replicate Israel success story and is hunting projects across the continent, with particular interest in West Africa