Draconian Covid-19-related lockdowns have a direct and significant effect on China’s economic growth, which in turn effects its demand for oil. The probability of further lockdown-related oil price shocks in the next few weeks looks high. China has long been the global backstop bid in the oil market. Between 2000 and 2014, it was almost single-handedly responsible for the commodities pricing super-cycle that occurred during that period. As it now stands, China still does not have effective vaccine against Covid19, nor does it have an effective post-infection anti-covid anti-infections, despite repeated offers from all major producing countries. Even before the extension of the lockdown that has added another 21 million people to the total . . .