Oil prices leapt the most since November as traders grew increasingly optimistic about a sharp rebound in Chinese demand.
The producer also raised all prices for European buyers by $US2 a barrel, and most of those for the US by US30¢.The moves signalled that Saudi Aramco is anticipating an imminent boost in demand, particularly from China, as the world’s second-largest economy continues to reopen from three years of strict COVID-19-related lockdowns.
“There’s a positive mood and optimism, which I must always say is cautious optimism,” OPEC’s top official said on Monday at the India Energy Week forum.
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