A tourist poses in front of a sign of the Universal Resort, as the Universal Studios theme park reopens to the general public, following the coronavirus disease (COVID-19) outbreak in Beijing, China June 25, 2022. REUTERS/Tingshu Wang
LONDON, Dec 13 (Reuters) - China's exit from a coronavirus suppression strategy relying on lockdowns will eventually boost oil consumption by more than 1 million barrels per day (bpd) as domestic and international travel rebounds.
But first the country will have to endure a massive exit wave of infection disrupting economic activity and travel, depressing oil consumption in the short term.
Exit from lockdowns is likely to have a J-curve effect, lower oil consumption and prices in the first quarter of 2023 but increasing both later in the year.
