China’s move to help its economy pushes oil higher

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China’s move to help its economy pushes oil higher
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China’s central bank rolled over maturing medium-term policy loans while keeping the interest rate unchanged for a second month

New Delhi/Singapore

China's central bank rolled over maturing medium-term policy loans while keeping the interest rate unchanged for a second month on Monday. China will further increase reserve capacities for key commodities, another state official told a news conference in Beijing. Looking ahead, oil prices are expected to remain volatile as production cuts by Opec+ will tighten supplies ahead of the EU embargo on Russian oil, while a strong US dollar and further interest rate increases from the US Federal Reserve limit price gains.

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