A Glance of China Oil Market 20251229

On the demand end, the gasoline transactions are projected to slightly rebound with end-market players stockpile for New Year's holiday. The gasoil consumption is projected to contract further along with slowing outdoor projects in northern China, while the rigid demand still exists in southern China.

A Glance of China Oil Market 20251229

Weekly News

China gasoline and gasoil demand likely to fall 5% through 2026

OilChem's analysis indicated that China's gasoline and gasoil consumption is projected to reach 156 million tonnes and 204 million tonnes respectively in 2025, representing year-on-year declines of 3.87% and 3.95%. The increase in alternative energy consumption is the core factor driving this demand contraction. It is anticipated that in 2026, the bearish impact of alternative energy on gasoline and gasoil consumption will continue to intensify, with the decline in consumption approaching 5% annually. This accelerated reduction in consumption will significantly weigh on gasoline and gasoil prices and profitability. Read Full Story

China's Nov refined oil exports up 8% MoM

China's exports of refined oil, namely gasoline, gasoil, and kerosene, totaled 3.46 million tonnes in November, which went up 7.68% month-on-month (MoM) and 6.67% year-on-year (YoY), according to data from the General Administration of Customs of the People's Republic of China (GACC). The monthly increase was solely contributed by kerosene, with the November exports rising 41.18% MoM at 1.72 million tonnes. Year-to-date, China's refined oil exports amounted to 33.47 million tonnes, down 3.53% from the same period last year. And the annual reduction has slowed compared with the previous few years. Read Full Story

First ship of liquefied ethane arrives at Tianjin Nangang

On December 16, the vessel "IINO INEOS VESTA," carrying 31,000 tonnes of liquefied ethane, the feedstock of ethylene, safely docked at the Sinopec Nangang light hydrocarbon terminal, news published by Tianjin Municipal People's Government on December 19. The arrival marks the first shipment of imported feedstock received by Sinopec's 1.20 million t/y Tianjin Nangang ethylene project, signifying the official establishment of the feedstock supply chain. For a long time, there has been a certain gap in high-end petrochemical capacity in northern China. In particular, the production of basic chemical feedstock such as ethylene struggled to meet the growing market demand. Read Full Story