Today on the program, the demand for oil, crypto, and a new player in sports.

From American Public Media, this is Marketplace.

In Portland, Oregon, I'm Marie Macherese and for Kyra's Doll.

It is Monday, April 3rd.

I'm going to have you along.

We're going to start with a story about supply and demand.

Over the weekend, the oil market got a big jolt when the oil producers cartel, OPEC Plus,

made a kind of surprise announcement, you could say.

It announced that starting next month, it'll cut oil production by more than a million barrels

a day.

And so with that, with a tighter supply looming, oil prices across the board jumped nearly

6%.

So that's the deal with the supply.

And now what about the demand?

Marketplace is just in hoe, tells us what that looks like.

There's no debate that oil demand is going to grow this year.

It's just the rate of that growth that is in question.

Matt Smith, that the data in analytics firm Kepler says a lot of that question comes down

to China, the world's biggest oil importer.

As its economy is reopened, China's been demanding more oil.

But so far, Smith says not much more.

People were expecting multiple millions of barrels per day of demand growth coming through

...