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Chinese 2023 Gasoil Demand to Edge Higher YoY

OIL PRODUCTS

China’s gasoil demand is expected to rise to 220.8mn tons this year, up by 3.09% on the year according to OilChem.

  • Gasoil consumption in the first ten months of this year stood at 183.63mn tons. Domestic gasoil consumption is mainly contributed by transportation, warehousing and postal services, with a share of 67%, followed by agriculture (10.5%), industry (7.2%), and construction (4.1%).
  • Chinese gasoil production is forecast to rise by 5.04% on the year to 235mn tons. Production stood at 197.93mn tons during January-October.

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