China records solid oil demand growth

摘要

Singapore—China’s apparent oil demand contracted in January, but then flipped back into positive growth last month, hitting a record 10.62 million b/d, according to Platts estimates Wednesday based on recently released government data. Apparent oil demand fell by 6.4% year on year in January to 40.11 million mt or 9.48 million b/d. This is the steepest pace of contraction since 2012, when apparent oil demand growth slipped into negative territory in several months on the back of China’s slowing GDP growth.