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China’s oil demand bounce may push producers to reconsider output – IEA


Price caps hit Russia’s export revenue by about $8 billion in Jan – IEA official By Reuters

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Commodities 38 minutes ago (Feb 05, 2023 12:16)

© Reuters. FILE PHOTO: An aerial view shows Vladimir Arsenyev tanker at the Kozmino crude oil terminal on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel

BENGALURU, India (Reuters) – Price caps on Russian oil likely hit Moscow’s revenues from oil and gas exports by nearly 30% in January, or about $8 billion, from a year ago period, International Energy Agency (IEA) chief Fatih Birol said on Sunday.

He said the growth in global oil demand this year will come from China and that may need the OPEC+ countries to look at their (output) policies.

“And now this year Chinese economy is rebounding. ..this is putting upward pressure on the demand,” he said referring to ‘exploding’ demand for jet fuel in China.

Price caps hit Russia’s export revenue by about $8 billion in Jan – IEA official

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