In the recent announcements of China, world’s biggest crude importer, of zero-Covid policies, oil prices have went significantly down on Monday. Brent crude fell by 0.4%, $95.41 a barrel by 0151 GMT, while WTI crude fell by 0.3%, $87.67 a barrel. Even though, US producers are expected to keep tight grip on steady oil demands, the damages are bigger than anticipated from China. Despite increasing renewable energy sources, the Organization of the Petroleum Exporting Countries is anticipated to come out with plans for oil demands of the decade.
