Tuesday, July 23, 2024
HomeNewsFinanceChina’s oil demand increase in Pandemic era, think tank

China’s oil demand increase in Pandemic era, think tank

Date:

Related stories

Why International Recognition of Palestine Matters

The ongoing crisis in Gaza, marked by widespread destruction...

Did Europe’s Rules Trigger the World’s Worst IT Outage?

On a recent Friday, the world witnessed one of...

Can Kamala Harris Match Trump’s Political Prowess?

As the political landscape of the United States gears...

Pakistan’s Strategic Role in Global Climate Action at COP29

The United Nations' 29th Global Climate Change Conference (COP29)...

The Dark Side of the Ukraine Conflict

The ongoing conflict in Ukraine has seen the participation...
spot_img

During the global epidemic, where global economies are in a slump, China is growing and its demand and supply have also increased.

Surprisingly, the demand for petroleum products in all countries of the world has decreased during the global epidemic, at the same time, China’s needs are growing. This situation has raised many questions.

State-owned CNPC’s think-tank released facts that Chinese gasoline demand has entered a low-to-medium growth phase while diesel demand growth peaked five years ago.

 

Chinese diesel demand could rise by 2.5pc from a year earlier to 3.5mn b/d in July-December, boosted by transportation and construction use.

Sales of construction machinery like excavators rose by 68pc year on year in May alone, Report said.

 

According to report, China’s economy grew by 3.2pc in the second quarter, a strong recovery compared with a 6.8pc decline in January-March.

 

The ETRI also expects more market reforms this year, as signalled by the commerce ministry’s (MoC) announcement in early July to remove entry barriers to crude and product markets.

 

Wasim Qadri
Wasim Qadrihttp://wasimqadriblog.wordpress.com/
Islamabad based Senior Journalist, TV Show Host, Media Trainer, can be follow on twitter @jaranwaliya

Latest stories

Publication:

spot_img

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here