Apparent Demands for Oil in China Increased in June
Posted: 08/01/2014 01:08:18 Edited: 08/01/2014 01:08:26 Clicks: 746
New data published by Platts showed that apparent demands for oil in China increased by 2.7% on year-on-year basis in June, reaching 10.25 million barrels (41.94 million tons) per day, having reversed the moderating trend in May. It was also the second time that exceeding ten million barrels per day this year.
In the first half of this year, apparent demands for oil in China was average 9.91 million barrels per day, raised by 0.6%, compared with the same period last year. The growth rate was the lowest growth rate since 2005 when Plattes began to compile data firstly.
Chinese market specialists of Platts pointed that agricultural sector would begin to seed when summer coming, resulting to enhancing demands for fuel and increasing apparent demands for oil further in June. More over, apparent demands for gasoline and aircraft fuels or kerosene rose significantly in the first half of this year.
Statistics of Platts showed that demands for gasoline in China increased highly by 15.6% on year-on-year basis in June, reaching average 2.5 million barrels per day, which was still the pillar for increase apparent demands for oil in China. In the first half of this year, apparent demands for gasoline increased by 10.5%.
In June, apparent demands for diesel were increased to average 3.58 million barrel per day by 4.4% on year-on-year basis which was the highest growth rate since September in 2012. However, demands for diesel were decreased to average 3.44 million barrels per day by 0.4 on year-on-year basis in the first half of this year.
Fuel oil was the unique type of oil products whose apparent demands descending. It decreased highly to average 6.181 hundred thousand barrels per day on year-on-year basis. In the first half of 2014, demands for fuel oil descended to 6.368 hundred thousand barrels per day by 16% on year-on-year basis.
In the first half of this year, apparent demands for oil in China was average 9.91 million barrels per day, raised by 0.6%, compared with the same period last year. The growth rate was the lowest growth rate since 2005 when Plattes began to compile data firstly.
Chinese market specialists of Platts pointed that agricultural sector would begin to seed when summer coming, resulting to enhancing demands for fuel and increasing apparent demands for oil further in June. More over, apparent demands for gasoline and aircraft fuels or kerosene rose significantly in the first half of this year.
Statistics of Platts showed that demands for gasoline in China increased highly by 15.6% on year-on-year basis in June, reaching average 2.5 million barrels per day, which was still the pillar for increase apparent demands for oil in China. In the first half of this year, apparent demands for gasoline increased by 10.5%.
In June, apparent demands for diesel were increased to average 3.58 million barrel per day by 4.4% on year-on-year basis which was the highest growth rate since September in 2012. However, demands for diesel were decreased to average 3.44 million barrels per day by 0.4 on year-on-year basis in the first half of this year.
Fuel oil was the unique type of oil products whose apparent demands descending. It decreased highly to average 6.181 hundred thousand barrels per day on year-on-year basis. In the first half of 2014, demands for fuel oil descended to 6.368 hundred thousand barrels per day by 16% on year-on-year basis.
