China’s Covid Crisis Will Ensure Oil Price Volatility

While fluctuating back and forth with fears of global recession and uncertain U.S. economic data, China’s economic reopening remains a significant key to demand determinations; yet, no one can get a handle on the severity of the country’s Covid crisis and what it might mean for future demand.The problem, as we see it, is two-fold: First, there is no accurate data coming from Beijing. Second, while the media loves to actually blame the surge in new cases on the reopening–despite the fact that Western media likewise had harshly…