OPEC secretary general says too early to tell impact of sanctions on Russian oil

  • China re-opening expected to encourage oil demand this year
  • Expects Chinese appetite to raise oil demand by 0.5 mil bpd
  • Demand from China, India could compensate for drop from developed countries

There are still mixed views on the oil market as of late but price has recovered well after the start of the year scare, with WTI crude now hovering back close to $80.

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