Fears Over China's Covid Lockdowns Drive Oil Below $97

The video discusses the impact of COVID-19 lockdowns in China, particularly in Shanghai and Beijing, on global oil demand. It highlights concerns about reduced demand due to these lockdowns and the potential effects on crude oil prices. The discussion also covers the balance between oil supply and demand, noting that while supplies remain tight, demand from China could alter the outlook. Additionally, the video examines the influence of Russian energy on global oil prices, considering the potential impact of European embargoes and the continued flow of Russian oil to Asian markets.

What are the implications of potential lockdowns in Beijing on crude oil demand?

How did the Shanghai lockdowns affect oil demand according to the text?

What is the significance of China's role in the global crude oil market based on the information provided?

What factors are contributing to the current oil prices mentioned in the text?

Discuss the impact of Russian energy exports on global oil prices as described in the text.