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OIL PRODUCTS
China’s gasoline prices are expected to fall in February amid softening market sentiment and falling consumption, according to OilChem.
- Sentiment is weakening due to a depletion in momentum following pre-Chinese New Year stockpiling.
- Gasoline consumption is expected to fall by 3% to 0.44m mt/d in February. Demand will peak around Chinese New Year before slumping.
- Gasoline production is expected to be down 1.3% on the month to 0.48m mt/d in Feb as independent refineries lower run rates as the holiday approaches.
- However, this should be largely offset by a rise in run rates from state-owned refineries.
- China’s gasoline inventory is likely to increase by 0.3m mt to 17.5m mt through February.
Source: OilChem
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.
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