China is fighting the worst Covid outbreak since 2020, and analysts are considering a revision of their oil demand forecasts as refineries reduce run rates and lockdowns hurt consumption. According to Bloomberg , because of the outbreak and the lockdowns following it, some independent refiners—commonly known as teapots—were forced to resell oil cargos they had ordered. The lockdowns have reduced traffic in some cities as well as air travel, prompting refiners to reduce processing rates, the report also said. Yet the repercussions of the outbreak go beyond refineries. The Wall Street Journal reported that factories in areas that have gone under lockdown would not be able to keep up manufacturing rates, potentially exacerbating an already existing shortage and extending the global economy’s uncertain path to post-pandemic recovery. Even before the lockdowns, many economies were struggling to return to growth, but now their immediate future has become even more uncertain. […]