Growth of apparent oil demand slows to 4%
Print Edition
China’s apparent oil demand in June rose 4.1 percent year on year to 11.25 million barrels per day, according to industry figures.
The total represented a significant slowdown in growth following three months of gains in the region of 10 percent, energy information provider Platts said in a report published yesterday.
Apparent oil demand is defined as domestic production plus net imports.
Throughput at China’s refineries in June rose 1.9 percent year on year to an average of 10.6 million barrels per day, Platts said, citing figures from the National Bureau of Statistics.
In the same period, net imports of oil products increased 58.4 percent from last year to 659,000 barrels per day, driven by strong inflows of fuel oil and naphtha, the report said, citing data from the General Administration of Customs.
In the first half of the year, China’s apparent oil demand rose 7.3 percent year on year to an average of 11.12 million barrels per day, Platts said.
Meanwhile, June’s apparent demand for gasoil — the most widely used oil product in China — fell 0.3 percent from last year to 3.63 million barrels per day, it said.
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