JPMorgan Raising Estimate for China's Oil Demand Growth

The video discusses the growth in China's oil demand, which is expected to increase by 800,000 barrels per day, representing half of the global oil demand growth. It also covers the impact of a global economic slowdown on petrochemical products, highlighting cautious optimism for construction-related chemicals. The forecast for Russian oil production is addressed, noting a temporary drop due to the G7 cap on exports, with a recovery expected by mid-2023. The overall oil price forecast for 2023 is set at $90 per barrel, with potential price increases in the second half of the year as China's reopening boosts demand.

What percentage of global oil demand does China account for?

How much is the expected growth in Chinese oil demand for this year?

What are the expectations for the recovery of construction-related chemicals?

What impact does the G7 cap on Russian oil product exports have on Russian crude oil production?

What is the forecast for oil prices in 2023 according to the text?