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Can China revive the oil market? 

There is a wide range in which oil prices can move in 2023, and a lot of it has to do with what happens in China 

January 11, 2023 / 11:12 AM IST
Can China revive the oil market? 

(Representative image: Reuters)

Highlights    China’s re-opening is considered bullish for the oil market  China is granting import quotas for crude oil import which are 20% above the previous year's quota  An export quota is increased by 46 percent, suggesting incremental demand is not for domestic markets.  If China opens up the most bullish case is for oil at $140 a barrel  the US government is looking at replenishing the oil reserves  The OPEC+ alliance is expected to control the flow to keep oil prices around the $80 per...

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