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OIL PRODUCTS: China’s Road Traffic Still Week After Slight Rebound: BNEF

OIL PRODUCTS

In the week to Aug. 21, road congestion levels in China’s 15 key cities rebounded slightly following four consecutive weeks of decline, according to BNEF.

  • Congestion is up 3.4 percentage points week-on-week to 101.4% of January 2021 levels.
  • However, traffic data remains lower than the same weeks in 2022 and 2023, suggesting weaker driving activity and road fuels consumption.

 

Source: Bloomberg

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