China’s gasoil demand continues to fall

摘要

Singapore—China’s apparent demand for gasoil contracted for the second consecutive month in August, falling 1.1% to 14.04 million mt. This follows a negative growth of 2.3% in July. China does not release oil products demand data. Platts calculates apparent demand for the various products by adding net imports and domestic production. Exports of gasoil, a significant portion of which is used in the heavy industrial sector as well as the fishing and agricultural industries, spiked 485.7% from a low base in August last year to 410,000 mt, while domestic production edged up just 1.3% year on year to 14.45 million mt.