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China's Fuel Demand Stutters; Stoking Higher Exports
ReleaseTime:2016-7-19

[Dow Jones] Restrained by the ongoing downturn in China's economy, the country's demand for refined fuel "stuttered severely" in May--rising just over 1% on-year--with momentum undermined by weakness in gasoil/diesel and bitumen, says the International Energy Agency in its latest monthly report. The watchdog notes China's gasoline demand is also losing steam. "Weakening Chinese gasoline tallies with a high net-export position: Chinese gasoline imports all but vanished in May, according to the latest Customs Data, while nearly 800,000 tonnes were exported, producing a heady net-export position of roughly 210,000 barrels a day," the agency says. China's June data shows its exports of refined reached 4.2 million tons, an on-year rise of 38%.

ArticleSource:IEA
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