A Glance of China Oil Market 20250714

On the refined oil end, the gasoline demand is likely to keep benefiting from the travel peak in the summer, as well as the use of vehicle air conditioner. But the rains across the country and the high temperature will prevent the gasoil demand from any recovery in the near term.

A Glance of China Oil Market 20250714

Weekly News

China's MTBE oversupply lingers with intensive capacity commissioning

China's MTBE market is expected to experience deepening oversupply with the intensive commissioning of new capacities in the first half of 2025 (H1 2025), and the situation is likely to aggravate as there are still several units scheduled to come on stream in the second half, OilChem's data showed. China's MTBE capacity totaled 25.22 million tonnes/year as of end-June 2025, among which 2.44 million tonnes/year came on stream in H1 2025 driven by moderate profits in the earlier stage. Read Full Story

China July gasoil consumption to fall 4.5% YoY

According to OilChem's analysis, China's gasoil market is projected to kick off the traditional off-season in July, while the supply will likely slightly rise with state-owned refineries resuming the production from outage. Specially, China's daily gasoil consumption is estimated at 532,000 tonnes/day in July, falling 0.7% from the previous month and down 4.5% from the same period last year, OilChem estimates. The high temperature in summer and rainy season will significantly slow the outdoor activities, in addition to reducing agricultural, livestock, and fishing activities. The logistics sector is projected to fare smoothly but is likely to weaken compared with June when there held the mid-year shopping festival. Read Full Story

China's gasoline and gasoil market contracts further in H1 2025

China's gasoline and gasoil market kept contracting in the first half of 2025 in terms of both supply and demand amidst the green transition course, according to OilChem's survey. Specially, China's gasoline and gasoil consumption totaled 176.93 million tonnes in the first half of 2025, falling 4.42% from the same period last year. Among them, the gasoil consumption contracted 3.71% year on year (YoY), and the gasoil consumption showed an annual fall of 4.98%. The consumption reduction of gasoline and gasoil both accelerated compared with the first half of 2024, indicating an active transition to new energy vehicles which is irreversible. Read Full Story