IEA expects surging oil demand from China this year, OPEC+ may need to boost output | Forexlive

International Energy Agency’s Executive Director Fatih Birol spoke Sunday on the sidelines of the India Energy Week conference”

Via Reuters:

• “We expect about half of the growth in global oil demand this year will come from China”
• China’s jet fuel demand is exploding, putting upward pressure on demand
• “If demand goes up very strongly, if the Chinese economy rebounds, then there will be a need, in my view, for the OPEC+ countries to look at their (output) policies”

Also said that:

• price caps on Russian oil have achieved the objectives of both stabilising oil markets and reducing Moscow’s revenues from oil and gas exports

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Earlier oil related post along similar lines, also an item that should the price a tailwind when markets reopen today: