A Glance of China Oil Market 20260119

On the demand end, the end-market players will begin stockpiling for Chinese New Year holiday in phases, sustaining the demand rally. However, the gasoil consumption is expected to keep contracting in southern China, with demand in northern China already at the bottom.

A Glance of China Oil Market 20260119

Weekly News

China Jan gasoline demand to contract YoY on holiday impact

China's gasoline supply and demand are expected to gradually recover in January 2026 from the seasonal low in the previous month, while the fundamentals are weak compared with the same period last year when the holiday travel reached its peak, leading to an annual contraction. China's gasoline consumption is estimated to jump 7.33% month-on-month at around 422,600 tonnes/day in January 2026, falling 7.96% from the same period last year, OilChem's analysis showed. In January 2026, China's gasoline demand has been gradually recovering. Read Full Story

China Jan gasoil to see demand growth against a low base in 2025

China's gasoil market is expected to see an annual rebound in both supply and demand in January 2026 primarily due to a low base in the same period last year, when Chinese New Year (CNY) holiday was during this period, according to OilChem's analysis. Specially, China's gasoil consumption is estimated at around 535,500 tonnes/day in January 2026, demonstrating a seasonal reduction of 7.23% compared with the previous month while rebounding 14.88% from January 2025. From a month-on-month perspective, the demand is expected to extend the weakness across the end-markets, with the most significant drop observed in the industrial, mining, and infrastructure sectors. Read Full Story

Shandong 2025 etherified C4 market hits five-year low despite supply decline

In 2025, prevailing prices of etherified C4 in Shandong, the major production area and core consumption region for etherified C4 in China, recorded a five-year low under the combined influence of international crude oil market fluctuations and supply-demand imbalance, despite overall short supply in the year. The average price of etherified C4 in Shandong read Yuan 4,927/tonne in 2025, falling by Yuan 502/t or 9.25% from 2024's Yuan 5,429/t. From November to December, the oversupply in the etherified C4 market temporarily eased with some previously idled alkylation units restarting, and inventory pressure was alleviated. Read Full Story