Weak Chinese Economic Data Fuels Oil Demand Concerns

China’s economic data for May disappointed, with growth in industrial output and retail sales slowing from April and youth unemployment hitting a record high.   The uneven recovery after the reopening has weighed on the oil market, which fears a slowdown in Chinese demand. But the International Energy Agency (IEA) continues to be increasingly optimistic on China, saying in its latest monthly report published on Wednesday that “China’s rebound continues unabated, with its oil demand reaching an all-time high of 16.3 mb/d in…