Energy Aspects Bullish China Travel

Energy Aspects director of research Amrita Sen comments on Chinese oil demand, noting bullish travel data in a CNBC interview:

• “I think there is a huge dichotomy between the oil numbers and the macro data out of China and its kind of been the confusing factor for the market this year” Sen said.
• “If you look at the macro numbers this year, we’ve seen that credit growth has grown to less than 9%, there’s a real risk that if they didn’t do the interest rate cuts then growth would maybe have been 4% for the year rather than 5%” she added.
• “But oil demand [from China] is extremely strong, gasoline, jet, even diesel.” Sen said, “the weakness has only been in the petrochemicals sector and that’s only because of the weak housing market”
• “There is more easing of international travel restrictions [for China], international jet should even pick up further.” she said referring to greater group tour policies and more flights scheduled between the US and China which have languished this year.