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Energy

Chinese oil demand on recovery track, pushing prices higher

But global outlook remains bleak as lockdowns and travel bans stay in place

The roads in Wuhan are again filled with cars after the lockdown was lifted on April 14.    © Reuters

Tokyo/ Shanghai -- Oil demand in China, the second largest market in the world, is returning to pre-pandemic levels, with prices on the rise, even as the global outlook for the commodity remains bleak.

Since mid-April, Chinese refineries have ramped up production after the government eased lockdowns as the coronavirus came under control in the country.

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