Singapore—China’s ongoing macroeconomic reforms are heralding a structural change in its oil product consumption mix with sluggish gasoil demand compensated by gasoline, which has become the main driver of overall oil demand growth in the country. Over the last two years, gasoil demand in China has flatlined, at times declining in apparent demand estimates. China does not release oil consumption data. Platts calculates apparent demand by adding domestic output to net imports. While gasoil apparent demand has risen over 20% since 2008, its share in China’s overall apparent oil demand has steadily fallen every year.
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