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China Oil Demand in December 2012

Source: OPEC 1/8/2013, Location: Asia

China’s gasoline demand increased by a dramatic 8.8% in October y-o-y, adding another 162 tb/d to the total gasoline pool. Its gasoline demand has been on the growth path for many years, averaging 2.0 mb/d in October. This trend is expected to continue next year, pending no new Government policies directed towards transport fuel consumption. Kerosene and diesel use grew strongly in October, each by 0.1 mb/d. Diesel is the largest petroleum product consumed in China.

China’s Manufacturing PMI was estimated at 50.4 in November, the highest for more than 12 months. This indicated higher diesel demand during that month. Apart from November, diesel use was low for most of the year, as a result of slowing industrial activity. Another factor that affected diesel demand was the construction of infrastructure, where the use of machinery raised diesel demand. Winter intensity will play a major role in the use of transport fuel, as driving mileage tends to ease off when it is very cold.

According to the statistics and analysis of the China Association of Automobile Manufacturers, Chinese automobile sales increased by 5% in October, following a decrease of almost 2% in September y-o-y. Among the main automobile categories, passenger car sales rose by 6% and commercial vehicles by 1% y-o-y.

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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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