China's oil demand fading faster than expected, posing risks for producers

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China's oil demand fading faster than expected, posing risks for producers - Business Standard

Quick Summary:

Combine domestic refinery processing with net exports of gasoline, diesel and the like, and the consumption of petroleum is about 300,000 daily barrels lower than in 2023.

Consumption rose by about 300,000 barrels a day, according to the Organization of the Petroleum Exporting Countries, while the International Energy Agency saw a more modest 200,000 barrel-a-day gain.

Growth last year was well below annual increases that have averaged about 600,000 daily barrels over the past decade — but it was still positive, by their estimates.