Oil prices have kicked off the new year on the back foot, tumbling to large losses in the first week before staging a half-hearted recovery in the second as demand uncertainty continues to weigh on trading. Concerns over the rapid expansion of China’s COVID cases, following the relaxation of strict zero-COVID policies have continued to weigh heavily on oil prices.Luckily, reprieve could be on the way with oil markets having reacted positively to China re-opening its borders on February 8, 2023 as one of the final acts of abandonment of the…