Crude oil prices rose above USD 81 per barrel on Tuesday after China’s Q1 economic growth surpassed expectations, raising post-pandemic recovery hopes. The IEA expects China to drive the 2023 oil demand increase but warns of a surprise OPEC+ production cut, tightening the market further. Investors remain concerned about major central banks raising interest rates to combat inflation, weighing on oil demand and other risk assets. The strengthening dollar is also a factor, with expectations of another Fed rate hike next month.