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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.
GASOLINE
Gasoline sales in China are not seeing a usual boost from holiday travel due to use of electricity-driven high-speed rail and new energy vehicles, according to Bloomberg.
- Gasoline apparent demand (production plus imports) was estimated lower in July and August, after seeing 20% annual growth over the same period last year, according to JLC.
- Gasoline sales at the pump have dropped in recent weeks with receipts at PetroChina and Sinopec dropping more than 5% since the start of July, according to Bloomberg sources.
- Extreme weather across the country this summer may also have limited travel.
- The rail network has carried 6.1% more passengers than last year at 605m since the start of July, according to China Railway Group.
- Gasoline exports are increasing with surplus supplies after processors raised their gasoline yields to meet the expected higher demand. Overseas sales were 280kbpd in the first two weeks of August compared to 210kbpd in July, according to Vortexa.
Source: Bloomberg
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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