Oil & Gas Oil Demand Rises in China
China’s apparent oil demand in November rose by 3.5 per cent year over year to 42.18 million metric ton (mt), or an average 10.31 million barrels per day (b/d), according to a recently released Platts analysis from the Chinese Government.
The official data also showed that China is turning into a net exporter of oil products during the January – November period this year. Also, the country’s oil demand in November increased by 2.2 per cent from October. Meanwhile, the total apparent oil demand was 9.99 million b/d during the first 11 months of the year, an increase of 2.3 per cent over the same period last year.
In an unprecedented development, China has become a net exporter of oil products over January to November this year, with oil product exports surpassing imports by 70,000 mt. Stimulus measures implemented by the Chinese Government and a seasonal uptick in the year-