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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Oil Hits Three-Week High as China Eases COVID Curbs

Dust blows around a crude oil pump jack and flare burning excess gas at a drill pad in the Permian Basin in Loving County, Texas, US, November 25, 2019. (Reuters)

Oil hit a three-week high on Tuesday as China's latest easing of COVID-19 restrictions spurred hopes of a fuel demand recovery, with further support coming from cuts to US energy production caused by winter storms.

China will stop requiring inbound travelers to go into quarantine, starting from Jan. 8, the National Health Commission said on Monday in a major step towards easing curbs on borders that have been largely shut since 2020.

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