A Glance of China Oil Market 20251020

On the demand end, the gasoline consumption will contract with the absence of holidays, and the travel frequency will also drop with temperature going down. For gasoil, the demand recovery is still underway with slow progress of outdoor projects in the southern part of China and ongoing harvest season in the northern part.

A Glance of China Oil Market 20251020

Weekly News

China's refined oil exports down 13% MoM in Sep by shipping fixture

According to OilChem's tracking of the shipping fixture, China's refined oil exports totaled 2.08 million tonnes in September, down 13.33% from the previous month (involving the exports under general trade mode and excluding those exported to bonded zone). The September exports consisted of 0.72 million tonnes gasoline, 0.47 million tonnes gasoil, and 0.89 million tonnes kerosene according to the shipping fixture. The monthly drop was primarily attributed to insufficient export quotas of some refineries, though the third batch of refined oil export quotas was issued in late September with a volume of 8.395 million tonnes. Read Full Story

China's gasoil demand to keep falling by 3.4% YoY in Oct

China's gasoil demand is expected to further recover in October in the traditional peak season, while it is likely to keep contracting compared with the same period last year, according to OilChem's analysis. In detail, OilChem's survey showed that China's gasoil consumption is estimated to hit 597,000 tonnes/day in October, rising 2.1% from last month but down 3.4% from the same period last year. In October, the outdoor projects are likely to progress smoothly, but persistent rainfall in the north has negatively impacted the demand. On the supply side, China's daily gasoil production is estimated at 603,000 tonnes/day in October, flat month-on-month and up slightly by 0.1% from last year, OilChem's data. Read Full Story

China gasoline and gasoil production down 5% YoY in Sep

According to OilChem's data, China's gasoline production reported 12.88 million tonnes in September, and the daily production was down 0.07% month-on-month (MoM) and 5.56% year-on-year (YoY). The gasoil production stood at 17.58 million tonnes during the same period, up 3.26% MoM and down slightly 0.06% when compared on the daily basis, OilChem's data showed. The gasoline and gasoil production primarily followed the changes on the demand end, that is, the gasoil consumption kicked off the peak-season in September, while the gasoline demand contracted post the summer vocation. Read Full Story