Davos 2023: China to boost oil demand by up to 500,000 bpd

DAVOS, Jan 17 (Reuters) – Chinese appetite for oil is expected to raise demand by 500,000 barrels per day after the country curbed its COVID-19 restrictions, OPEC Secretary General Haitham al-Ghais told Abu Dhabi-based Sky News Arabia from Davos on Tuesday.

Demand from India and China could compensate for shrinkage expected from developed countries, he added.

Separately, Al-Ghais said it is still early to assess the impact of sanctions on Russian oil supply.