Gasoline Demand Is Bouncing Back

1. China bouncing back- China imposed the strictest lockdown at the start of the pandemic, and “has so far reaped the biggest rewards,” Bank of America Merrill Lynch wrote in a report. – China’s GDP contracted by 6.8 percent year-on-year in the first quarter, and rebounded by 3.2 percent year-on-year in the second. For the full year, China’s economy is on track to expand by 2 percent, while the Eurozone will see an 8.2-percent contraction and the U.S. will see an 8-percent contraction. – In June, when Beijing reported a…