Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL PRODUCTS
China’s gasoline consumption will start its traditional travel peak season in July but is expected to fall below 2023’s level due to booming electrical vehicle use, OilChem forecasts.
- China’s gasoline consumption is seen at around 465k mt/d in July, a monthly increase of 4.6%, but down 3.4% on the year.
- The summer driving season is driving up demand in July compared to previous months in 2024, with increased temperatures also likely to raise vehicle air conditioning demand.
- The substitution of EVs over fuel vehicles is seen at 14.5% in July, compared to 14.2% in June and just 9.0% in July 2023.
- It is seen as inevitable that gasoline demand will continue falling year on year.
- Domestic gasoline production is expected to show a monthly increase of around 3.4% to 481k mt/d. This is down 5.2% year-on-year.
Source: OilChem
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok