China’s Virus Flare-Up Stokes Oil-Demand Fears
- Domestic flights canceled, lockdowns renewed to curb spread
- Nation’s top energy producer sees fuel consumption falling 5%
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China is renewing restrictions and canceling flights as a Covid-19 resurgence in Asia’s top oil consumer sends jitters across the crude market.
Local governments are rushing to close off some cities and townships, while tourists are being turned away from popular sights as authorities seek to halt the fast-spreading delta variant during the peak summer travel season. Flights in and out of Beijing have been canceled, with China National Petroleum Corp. estimating jet fuel consumption will be the hardest hit by the new measures.