Record oil demand in China

Platts report announfces China's Oil demand hits record volume in September

China's apparent oil demand* rose 9.1% year on year in September to 40.12 million metric tons (mt), or an average 9.8 million barrels per day (b/d), the highest on record, a just-released Platts analysis of recent Chinese government data showed.

Oil and Gas Eurasia,

26 October, 2012

September apparent* demand surpassed the previous record of 9.77 million b/d hit in February this year. Demand growth for the month was also the highest since February 2011.

The September growth in apparent demand is a rebound from a 1.5% contraction in August to 8.95 million b/d, the lowest since September 2011, when demand was also at 8.95 million b/d. That was the second contraction this year, after apparent demand dipped 1.9% to 9 million b/d in June, before rising 2.4% year on year to 9.2 million b/d in July.

Apparent demand in September was boosted by higher refinery throughput, which rose 7% from September 2011 to 9.47 million b/d, according to data released by China's National Bureau of Statistics on October 18. This is the highest on record since the 9.38 million b/d seen in January. Another factor in the rise in apparent demand was the surge in net oil product imports of 156.6% year on year to 1.36 million mt in September....

http://www.oilandgaseurasia.com/news/p/0/news/17283