Near-Record Number Of Covid Infections Weigh On Oil Demand In China

China is registering near-record numbers of new Covid infections daily—close to the April 2022 peak when the financial center Shanghai was under lockdown for weeks—likely depressing fuel demand as 48 Chinese cities currently have some form of restrictions on movements. Shanghai is again restricting some movement, with travelers to the city barred from most public places for five days after their arrival.   Per CNBC calculations of Wind Information data, mainland China has seen daily new Covid cases rising to more than 28,000, close…