China’s GDP expanded 3% in 2022, missing the official target of ‘around 5.5%’ and marking the second-worst performance since 1976
London — Oil prices were mixed on Tuesday after China posted its second-weakest annual economic growth in nearly half a century, though its recent shift in Covid-19 policy underpinned hopes of a recovery in fuel demand in 2023.US West Texas Intermediate crude was down 7c, or 0.1%, at $79.79, heading for the first daily loss since January 4 after touching its highest since January 3.China’s GDP expanded 3% in 2022, missing the official target of “around 5.
Data released on Tuesday showed China’s oil refinery output in 2022 had fallen 3.4% from a year earlier for its first annual decline since 2001, though daily December oil throughput rose to the second-highest level of 2022.
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