China oil data – July 2019

Published at 09:55 26 Aug 2019 by

Implied oil demand in July hit 12.42 mb/d, up by 0.13 mb/d (1.1%) y/y, despite slowing economic growth. Actual demand (adjusted for stock changes) was likely higher than implied data suggest, and we estimate it at 12.89 mb/d (+0.52 mb/d y/y).Apparent gasoline demand reached 3.16 mb/d, lower by 0.21 …

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