Saudi Arabia And Russia Face Off Over Chinese Oil Market Share

China’s oil demand is rising with the reopening from Covid restrictions after nearly three years. The initial demand trend suggests a reopening in fits and starts, but analysts say that it will be China that will account for half of this year’s global oil demand growth, with total world oil demand reaching a record.

    And while China’s oil demand is set to rebound, the leaders of the OPEC+ group, Saudi Arabia and Russia, will be competing to meet the growing demand in the world’s largest crude oil importer. …