China’s apparent oil demand in August 2016 contracted by 4.3 percent from the same month last year to 10.76 million bpd, according to an analysis of Chinese government data by S&P Global Platts.
Refinery throughput in August averaged 10.47 million bpd, data from China’s National Bureau of Statistics (NBS) showed on 13 September. This was a 0.6 percent drop from the same month last year and down 0.5 percent from July. Refinery runs in August declined due to heavy maintenance programmes undertaken by both state-owned and independent refineries.
Net imports of key oil products – LPG, naphtha, gasoline, jet fuel, gasoil and fuel oil – in August rebounded to 286,000 bpd from 35,000 bpd in July. Total imports rose 8.5 percent on a month-on-month basis to 973,000 bpd while exports fell 20.3 percent over the same period to 687,000 bpd, from data from China’s General Administration of Customs showed.
In contrast, net imports of key oil products had averaged 700,000 bpd in August last year.
The year-over-year decline in overall demand in August was due mainly to a contraction in apparent demand for gasoil, fuel oil as well as for gasoline. Demand for transport fuels saw some seasonal weakness during the month but was expected to have rebounded given China’s Golden Week holiday in early October.

13th October 2016