Insight
China and Covid-19: Returning lockdowns increase downside risk to demand
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
China's oil demand has been recovering since the severe hit of Omicron outbreaks in April. However, as Covid cases rebounded in late June/early July, when more transmissible Omicron sub-variants were first detected, modified lockdowns are returning with curbs imposed pre-emptively in multiple places. China's zero-Covid policy and recurring outbreaks lead to downside risks to China's oil demand recovery in H2 2022 and into 2023. In this Insight slide deck, we address the following topics: • The impact of China's Covid policy and the possibility of a shift away from zero-Covid • Quantifying the risk to China's demand by product through 2023 • Uncertainties that remain to our base case outlook
Table of contents
- No table of contents specified
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Insight
China oil demand - downside risks to the outlook
Our downside risk scenario for China lowers oil demand growth by 160,000 b/d in 2024 compared to our base case outlook
$1,350
Commodity Market Report
Macro Oils short-term outlook May 2020
Low demand, plunging production and pressure on storage. But for all the changes, our price forecast for Brent remains largely the same.
$2,000
Commodity Market Report
Macro Oils short-term outlook: September 2020
One step forward, two steps back as demand stumbles and OPEC+ increases.
$2,000
