New COVID-19 cases look to weaken China’s oil demand recovery in Sep

A spate of new COVID-19 cases in China may weaken oil products demand growth during the typical consumption peak season in September and October ahead of the 20th Communist Party congress. Analysts in Beijing, Shenzhen, London and Singapore have lowered their key oil products demand estimates by up to 300,000 b/d for the months. However, they did not expect prolonged…