With its economy severely hampered by stringent measures to curb the spread of Covid-19, China’s oil and gas consumption declined in 2022 for the first time in decades, the International Energy Agency said on Friday. But after China’s recent reversal of its lockdown policies, the agency’s executive director, Fatih Birol, said he expected a sharp rebound in demand, which could mean higher energy prices in other markets. The reduction in Chinese energy use last year kept world prices from soaring even higher after Russia’s invasion of Ukraine, giving relief to…
China’s Oil and Gas Use Fell in 2022 for First Time in Decades
