Goldman Sachs: China's Demand Picks Up, Oil Market May See Shortages in H2

Analysts forecast that international oil prices are expected to return to the level of 100 yuan this year, and the recovery of Chinese demand is one of the most important driving forces. Goldman Sachs analysts said fuel demand in China rebounded strongly, while supply from other producers flattened. This would push the oil market into deficit in the second half of the year, prompting the Organization of the Petroleum Exporting Countries (OPEC) to change its production cuts policy at June meeting.