Oil rose on Monday as significant economies showed slower growth than expected, with interest rates remaining high after sinking 8% to three-week lows last week.
In early Monday trading, Brent crude futures and US West Texas Intermediate futures crept up 0.3% and 0.4%, respectively.
The IEA expects half of all global oil demand in 2023 to come from China as demand for jet fuel ramps again as the country opens up after lengthy Covid lockdown restrictions and even suggests OPEC+ may have to reconsider their stance on reducing production.
