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1. • • For the first time in decades, China’s oil and gas demand declined in 2022 as the strict Covid policies curtailed economic growth and mobility. This year, demand is set to rebound thanks to the reopening of the Chinese economy, pushing global oil demand higher and giving Europe a run for its money to stock up on LNG.
     oilprice.com/Energy/Crude-Oil/Chinese-Demand-Will-Drive-Oil-Prices-This-Year.html

     Chinese Demand Will Drive Oil Prices This Year | OilPrice.com

2. People also ask

   What happened to China's oil consumption in 2022?

   • That was the first annual decline in oil consumption in China since 1990. At the same time, global oil demand rose by 2.2 million bpd in 2022, per the IEA. Natural gas consumption in China also fell last year—by 0.7 percent, for the first annual fall in demand in four decades, according to the energy agency.

   Chinese Demand Will Drive Oil Prices This Year | OilPrice.com

   oilprice.com/Energy/Crude-Oil/Chinese-Demand-Will-Drive-Oil-Prices-This-Year.html

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   Will China's oil demand rebound in Q2 2022?

   • REUTERS/Aly Song/File Photo Acquire Licensing Rights BEIJING, April 7 (Reuters) - China's oil demand is estimated to rebound to 14.26 million barrels per day (bpd) in the second quarter of 2022 after the country's zero-COVID policy dampened consumption in the first quarter, a senior researcher from China National Petroleum Corp (CNPC) said.

   China's oil demand to grow in Q2, COVID rules weigh -CNPC researcher

   www.reuters.com/world/china/chinas-oil-demand-grow-q2-covid-rules-weigh-cnpc-researcher-2022-04-07/

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   What happened to global oil demand in Q1 2022?

   • The outbreak in China left Q1 2022 global oil demand growth at 400,000 b/d on the year, compared with 800,000 b/d in Q4 2021, it noted.

   OPEC cuts 2022 oil demand outlook on outbreak in China

   www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/041222-opec-cuts-2022-oil-demand-outlook-on-outbreak-in-china-slower-economic-growth

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   Why did OPEC lower its 2022 global oil demand forecast?

   • For full access to real-time updates, breaking news, analysis, pricing and data visualization subscribe today. OPEC on April 12 lowered its 2022 global oil demand forecast by 480,000 b/d, citing weaker economic growth along with the outbreak of the omicron variant in China, and indicated the market was in surplus in the first quarter of 2022.

   OPEC cuts 2022 oil demand outlook on outbreak in China

   www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/041222-opec-cuts-2022-oil-demand-outlook-on-outbreak-in-china-slower-economic-growth

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3. www.iea.org › data-and-statistics › chartsGlobal and Chinese quarterly oil demand, 2017-2024

   www.iea.org › data-and-statistics › charts

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   China’s petrochemical surge is driving global oil demand growth Sources IEA (2023), Oil Market Report - December 2023, (accessed 14 December 2023), https://www.iea.org/reports/oil-market-report-december-2023 .

4. www.cmegroup.com › openmarkets › economicsHow China’s Economic Outlook Can Influence Oil Markets

   www.cmegroup.com › openmarkets › economics

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   Dec 6, 2022 · The evidence for risk from China on the price of oil comes on top of the risk experienced at the beginning of 2022 when Russia invaded Ukraine. In the early stages of the Russian invasion, oil prices shot higher, peaking in June 2022 at around $125 per barrel of WTI crude.

5. www.reuters.com › world › chinaChina's oil demand to grow in Q2, COVID rules weigh -CNPC ...

   www.reuters.com › world › china

   Apr 7, 2022 · China's oil demand is estimated to rebound to 14.26 million barrels per day (bpd) in the second quarter of 2022 after the country's zero-COVID policy dampened consumption in the first...

6. oilprice.com › Energy › Crude-OilChinese Demand Will Drive Oil Prices This Year | OilPrice.com

   oilprice.com › Energy › Crude-Oil

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   Feb 1, 2023 · Energy. Crude Oil. Chinese Demand Will Drive Oil Prices This Year. By Tsvetana Paraskova - Jan 31, 2023, 8:00 PM CST. China’s oil and gas demand declines in 2022 as a result of its...

7. www.spglobal.com › commodityinsights › enAsia's oil demand revival bears the brunt of China's endless ...

   www.spglobal.com › commodityinsights › en

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   Apr 28, 2022 · Asia's oil demand outlook for 2022 is starting to look dimmer than what it was a couple of months earlier, as China's strict lockdowns aimed at battling the resurgence of the COVID-19 pandemic overshadow positive oil demand signs emerging from the rest of Asia.

8. www.spglobal.com › commodityinsights › enOPEC cuts 2022 oil demand outlook on outbreak in China ...

   www.spglobal.com › commodityinsights › en

   • Cached

   Apr 12, 2022 · OPEC on April 12 lowered its 2022 global oil demand forecast by 480,000 b/d, citing weaker economic growth along with the outbreak of the omicron variant in China, and indicated the market was in surplus in the first quarter of 2022.

9. www.bloomberg.com › news › articlesOil’s Already $120. Now China’s Major Sees a Demand Rebound

   www.bloomberg.com › news › articles

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   Jun 10, 2022 · Oil’s inflation-inducing rally could get supercharged with China’s biggest driller betting on a demand rebound if lockdowns ease as the US summer driving season starts. Consumption in...