Relaxation of China’s COVID policy unlikely to stimulate short-term oil demand

The world heaved a sigh of relief when Beijing announced on Nov. 11 measures to relax its COVID restrictions. However, these are insufficient to effectively stimulate short-term oil demand at Asia’s top consumer, especially since the country’s zero-COVID policy remains its top priority, analysts and market sources said Nov. 15. This move also suggests that China would rely on oil…