China’s fuel oil imports hit by weak gasoil demand

摘要

Singapore—China’s fuel oil imports in February fell 28.5% year on year to 1.67 million mt with trading sources attributing the sharp contraction to a combination of weak gasoil demand from the industrial sector and a bearish macroeconomic outlook, which has discouraged independent teapot refineries from importing more feedstock. February imports of the fuel—classified by customs as No. 5-7 fuel oil—were also down 30% from January.