Last December, Beijing announced the most sweeping changes to its strict Covid-19 guidelines, including relaxing testing requirements and travel restrictions. As the world’s largest importer of crude, most commodity experts were optimistic that the country's economy would recover quickly and give a healthy boost to oil demand, with some even touting a swift return to $100 oil. Unfortunately, China’s recovery has been less than impressive, and the initial excitement in the oil markets has been tamped down by a harsher reality.…
