www.bloomberg.com
Hengli Petrochemical International’s CEO, Janet Kong, predicts weak Chinese oil demand persisting until mid-2024. This forecast reflects ongoing economic uncertainties and slow recovery in China, a major global oil consumer. Kong’s assessment suggests that the rebound in oil demand, initially expected after the easing of COVID restrictions, is facing significant headwinds. This subdued demand outlook could influence global oil markets, potentially moderating price increases and affecting the strategies of oil-exporting nations.
