Asia/Pacific News
China's August Fuel Oil Imports up 58.5%
China's net fuel oil imports for the month of August were up 58.5 percent year-on-year to 549,000 barrels per day (bpd), according to an analysis of Chinese government data by Platts.
Apparent demand for fuel oil during the month was said to be 695,000 bpd, up 27.2 percent year-on-year, following a trend of increasing demand for the year so far, with January to August demand said to have risen 14.3 percent to 952,000 bpd.
Overall, China's apparent oil demand in August was up 10.2 percent year-on-year to 11.19 million bpd.
Last month analysts had suggested the country's fuel oil imports will drop for the remainder of the year and in 2016 due to recent reforms allowing nearly 700,000 bpd of crude oil to be purchased by small, independent buyers outside the state-owned sector.
