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
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
