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Chinese Diesel Demand Hit by Slow Recovery in Infrastructure Projects

OIL PRODUCTS

Diesel demand growth in China has been weak in April and March on a slow recovery in infrastructure project work according to OilChem.

  • Diesel demand may expand by 6.59m tons in 2Q, while gasoline consumption may grow by 3.01m tons according to OilChem.
  • Diesel usage will be boosted by a robust logistics sector rather than infrastructure.
  • Chinese gasoline and diesel consumption in March had recovered to 2021 levels.
  • Fuel exports in April will hold at March’s level, which is around 2mn tons. The exports will remain low because of seasonal refinery maintenance and weak export margins.
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