In the early morning of the 4th in Peking time, international crude oil prices rose on Friday. The market expects that the growth-promoting policy measures from the world's largest oil-importing country will boost oil prices.
The price of West Texas Intermediate crude oil futures for February delivery on the New York Commodity Exchange rose by $0.83, an increase of 1.13%, closing at $73.96 per barrel, accumulating a rise of 4.8% this week.
The price of Brent crude oil futures for March delivery on the Intercontinental Exchange in Europe increased by $0.58, a rise of 0.76%, closing at $76.51 per barrel, with a cumulative increase of 3.15% this week.
StoneX Analyst Alex Hodes stated: "As China's economic trajectory is expected to play a crucial role in 2025, there is hope that the government will take measures in the coming months to stimulate growth in consumer demand and boost the growth of oil demand."
Experts say that the unexpectedly one-time wage increase for government workers will inject up to $20 billion into the economy.