Vandana Hari of Vanda Insights discusses China’s reopening and outlook for the oil market in 2023.
The oil market has been almost entirely driven by sentiment, analyst says
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Vandana Hari of Vanda Insights discusses China’s reopening and outlook for the oil market in 2023.
China reopening, demand increase, Russia sanctions etc..etc… but the fact that opec continues to cut production and stifle supply means there is too much oil out there.
Sales of new-energy vehicles almost doubled in china, vastly outgrowing those of traditional cars, which saw sales shrink 13% last year. More than 4 million pure electric vehicles were sold in china in 2022. Are you telling me this transition has a negligible impact on chinese oil consumption?!