NYT: Recovery in China’s oil and gas consumption could drive prices higher 15:27

In 2022, oil and gas consumption in China fell for the first time in decades, and energy prices could rise as demand picks up. The newspaper writes about it https://www.nytimes.com/2023/01/27/business/energy-environment/china-energy.html.

It was noted that the decline in China’s energy consumption last year prevented further growth in world prices on the backdrop of the decrease in energy imports from Russia. The expert warned that “next winter may be more difficult” as the weather may get colder, Russia’s fuel exports will decrease further due to the West’s war-related sanctions, and the Chinese economy will recover.

According to data from the International Energy Agency, oil demand in China has fallen by 3%, or 390,000 bpd, in the first year since 1990, while overall global demand has increased by 2.2 million bpd, or about 2%.

formerly Bloomberg Wrotethat the dollar can compete from Asia if it creates a new national currency, but that still won’t happen.



Source: Gazeta

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