Chinese Jan-May oil demand perks up

摘要

China’s apparent oil demand in May rose 8.2% year-onyearrnto 43.80 million mt, or an average 10.36 millionrnb/d, according to Platts estimates based on governmentrndata released in June. For January-May, apparent oilrndemand rose 5.2% year-on-year to 10.45 million b/d, thernhighest level over the first five months of the year sincern2011, but still low by recent standards.rnChina does not release official data on oil demand,rnor commercial and strategic oil inventories. Plattsrncalculates apparent oil demand based on data aboutrnrefiners’ crude throughput and net oil product imports,rnas reported by the government.