:Oil prices rose on Wednesday, extending the previous session's gains, driven by optimism that the lifting of China's strict COVID-19 curbs will lead to a recovery in fuel demand in the world's top oil importer.
China's economic growth slowed sharply to 3 per cent in 2022, missing the official target of"around 5.5 per cent" and marking its second-worst performance since 1976. But the data still beatanalysts' forecasts after China started rolling back its zero-COVID policy in early December. Analysts polled by Reuters see 2023 growth rebounding to 4.9 per cent.
The market was also supposed by expectations of a drawdown in U.S. crude stocks by around 1.8 million barrels despite higher oil product inventories, from a Reuters poll.
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