China sees 6.5% rise in apparent oil need
Print Edition
CHINA’S apparent oil demand in March rose 6.5 percent from a year earlier to 44.73 million tons, the highest growth since September, according to a latest Platts analysis of Chinese government data.
During the first quarter of this year, China’s total apparent oil demand added 4 percent year on year to an average 10.48 million barrels per day, the highest pace of growth over the same period since 2012. The rise came despite China’s economic growth falling to 7 percent for the quarter, the slowest quarterly rise in six years.
“Apparent oil demand appears to be strengthening against a low base from a year ago, even though the economic outlook remains bleak,” said Song Yen Ling, Platts analyst for China.
“But there could be some support with continued loosening of credit controls by the government which could boost infrastructure investment.”
Apparent demand for gasoil, the most widely consumed oil product in China as up to 70 percent is used in transport, rebounded from a decline in February to grow 7.5 percent in March to 15.51 million tons. Actual consumption, however, was likely lower as there was some stock-building during March.
China’s refinery throughput in March averaged 10.57 million barrels per day, a rise of 5.5 percent from a year earlier, according to data from the National Bureau of Statistics.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
