Rising Stocks Inflate China's Apparent Oil Demand

摘要

China's apparent oil demand rose to a robust 14.16 million barrels per day in July, up 16.7% from the same month of last year, as the country's economy continues to recover, Energy Intelligence calculates. But the superficially impressive figure likely includes a substantial increase in inventories of refined products as Chinese refiners fail to find overseas buyers for their surplus output, industry observers say. The country's apparent oil demand for the first seven months of this year is up a much more moderate 2.35% versus the same period of last year at 12.83 million b/d.