Hope that China may relax Covid controls lifts oil

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Hope that China may relax Covid controls lifts oil
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Chinese officials have announced plans to speed up vaccination programme for elderly people as part of efforts to ease ‘zero-Covid’ curbs

London — Oil prices jumped by 3% on Tuesday on the hope for a relaxation of China’s strict Covid-19 controls after rare protests in Chinese cities at the weekend.

Chinese health officials on Tuesday said the country plans to speed up Covid-19 vaccinations for elderly people, aiming to overcome a key stumbling block in efforts to ease unpopular “zero-Covid” curbs Rare street protests in cities across China over the weekend were a vote against President Xi Jinping’s zero-Covid policy and the strongest public defiance of his political career, China analysts said.

Oil cartel Opec and allies including Russia, a group known as Opec+, hold their next meeting on December 4.

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