Oil Extends Losses on China Demand Concerns

The video discusses the impact of recent lockdowns in Shanghai and other Chinese cities on global oil demand, highlighting concerns about reduced mobility and potential wider restrictions. It also covers expectations from the upcoming OPEC+ meeting, where a modest production increase is anticipated, but with caution due to market balance concerns.

What is the main concern of traders regarding the lockdowns in China?

• Improved global mobility

• Higher oil prices

• Wider resurgence of COVID-19 cases

• Increased oil production

How much did morning congestion in Shanghai decrease compared to a year ago?

• 50%

• 60%

• 45%

• 30%

By how much did energy consultants trim their oil demand projection for the current month?

• 600,000 barrels a day

• 500,000 barrels a day

• 800,000 barrels a day

• 700,000 barrels a day

What is the expected increase in oil production by OPEC+ in May?

• 530,000 barrels

• 330,000 barrels

• 430,000 barrels

• 630,000 barrels

What did the UAE Energy Minister indicate about the market situation?

• The market might be imbalanced

• Producers should increase resources

• Demand is higher than supply

• The market is stable