Oil prices are higher today, recouping some losses from yesterday\u2019s session around China demand optimism. An unverified note trending in social media, and tweeted by influential economist Hao Hong, said a “Reopening Committee” has been formed by Politburo Standing Member Wang Huning, and was reviewing overseas COVID data to assess various reopening scenarios, aiming to relax COVID rules in March 2023. Hong Kong and China stocks jumped on the rumors. “We’re getting a lot of signals in that direction and the market is responding very positively to that,” said Phil Flynn, an analyst at Price Futures Group. OPEC raised its forecasts for world oil demand in the medium and long term on Monday, saying that $12.1 trillion of investment is needed to meet this demand. WTI traded up $1.84 or 2.1% to close at $88.37. Brent traded up $1.84 or 2% to close at $94.65. <\/p>\n\n\n\n
Oil prices are higher today, recouping some losses from yesterday\u2019s session around China demand optimism. An unverified note trending in social media, and tweeted by influential economist Hao Hong, said a “Reopening Committee” has been formed by Politburo Standing Member Wang Huning, and was reviewing overseas COVID data to assess various reopening scenarios, aiming to […]<\/p>\n","protected":false},"author":2,"featured_media":6111,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-7859","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"\n