[lvlrsSTI]

https://oilprice.com/Latest-Energy-News/...emand.html

[lvlrsSTI]

On the other hand, news about a strong rebound in China travel has served to fuel optimism about demand and, by extension, prices. Airlines in China are on a hiring spree for cabin crews, Reuters reported this week, meaning the air travel industry’s fortunes were reversing after three years of pandemic restrictions.

“Oil is a bit of an oddity today as it extracts some buffer from an interventionist OPEC+,” said Mizuho Bank head of economics and strategy for Asia, Vishnu Varathan, as quoted by Bloomberg.

Oil prices have gained about 5% since OPEC+ announced its latest round of additional cuts, to the tune of 1.16 million barrels daily, distributed among nine cartel members. Russia’s cuts of 500,000 bpd are not included in the above figure.

[teaserteam]

The largest Airline,  The China Southern Airlines has posted a reduced revenue in 2022 of USD13 billion in 2022,  the lowest of the last 5 years.  Will monitor to see how high it will go after China has opened up..Sale growth has just recovered to 2018 level

https://www.globaldata.com/company-profi...inancials/