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OIL PRODUCTS
China’s gasoline and gasoil supplies – domestic production minus exports – was down 6.51% and 7.45% respectively on the month in June, OilChem said.
- Gasoline supply was 13.95m mt, while gasoil was 16.36m mt in June, a year-to-date for both products.
- This represents a year-on-year decline of 2.91% for gasoline, and 13.95% for gasoil.
- June supplies were down due to intensive refinery maintenance and soft domestic demand.
- OilChem expects China’s gasoline and gasoil supply to rebound 8.19% and 4.82% respectively in July to 14.19m mt and 17.15m mt.
- The ramp up in supply comes as refineries increase production after routine maintenance and the Sep/Oct traditional demand peak.
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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