China gasoil production to fall 10% MoM in Apr on run cut

China's gasoil market is poised for a 1.6-million-tonne inventory drawdown in April as refineries cut production amid feedstock uncertainty. Daily consumption is set to rise 3.6% month-on-month to 558,300 tonnes, driven by seasonal construction and agricultural demand, though logistics remains capped by high prices. Daily production is expected to fall 9.7% to 508,300 tonnes, with CDU utilization dropping to 62%.

China's gasoil market is expected to see palpable inventory drawdown in April with domestic refineries controlling the production on the backdrop of feedstock supply uncertainties, while the overall supply is expected to remain ample against improving demand, OilChem's data showed. In detail, China's daily gasoil consumption is expected to improve