Oil Demand Gets Boost as China’s Harsh Curbs Bring Delta to Heel
- Congestion levels in major cities picking up, Baidu data show
- Air travel remains sluggish, below mid-July rates, BNEF says
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Traffic on China’s typically busy city streets has shown signs of a recovery as the key crude-importing nation managed to quash a resurgence in Covid-19 cases, bolstering the outlook for energy demand.
Congestion in Beijing, the capital, rose 11.8% as of mid-morning on Tuesday compared with a week earlier, according to real-time traffic data from Baidu. The volume in the commercial center of Shanghai was 2.8% higher, while it was up 6.8% in Zhengzhou and 3.4% in Nanjing, both regional towns.