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China's imports of crude oil surged to the second highest on record in March, capping off a strong first quarter as the world's biggest importer of the fuel re-opened its economy.
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OPEC on Thursday flagged downside risks to summer oil demand as part of the backdrop to output cuts announced this month by OPEC+ producers, shedding some light on the factors behind the surprise move that has led to a rise in oil prices.
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U.S. Treasury Secretary Janet Yellen on Monday said a surprise OPEC+ oil production cut is an "unconstructive act" that will add uncertainty to the global growth outlook and to burdens on consumers at a time of high inflation.
Iraq's federal government and the Kurdistan Regional Government (KRG) signed a final deal to restart northern oil exports, sources told Reuters on Tuesday.
The surprise decision by Saudi Arabia and other OPEC+ producers to cut crude oil output from May will likely achieve two things; a short-term boost to prices and a longer-term reassessment of bullish demand forecasts.