China's Oil Demand Is Back, Oil Is Headed Higher
The world has thrown the kitchen sink at oil with 1) China's COVID lockdown, 2) large equity drawdown, 3) rising USD, and 4) higher interest rates. Yet, despite all of these headwinds, oil prices are remaining strong and trading above $100/bbl.
In the past few months, one of the critical headwinds for oil has been the Shanghai COVID lockdown. China is th…