China's Oil Demand Expected to Remain Sluggish

摘要

Covid-19 lockdowns and surging energy prices hit Chinese oil demand in March,and April numbers will likely show a further contraction as the lockdowns continued to spread and are only now starting to show faint signs of easing.China's March apparent oil demand fell 3% from the January-February average to 13.93 million barrels per day.Demand for both transportation fuels and the petrochemical feedstock naphtha suffered as the Covid-19 lockdowns hit mobility and the manufacturing sector.