Rongsheng sees China oil demand recovery next year

Rongsheng sees China oil demand recovery next year

SINGAPORE : China’s oil demand is expected to rebound next year as Beijing eases COVID-19 restrictions, a senior refining executive said on Wednesday.

Gasoline consumption is expected to pick up while jet fuel demand may take longer to recover, Chen Hongbing, deputy general manager at Rongsheng Petrochemical told a forum at the 38th Annual Asia Pacific Petroleum Conference (APPEC).

Diesel demand at the world’s top crude importer and No. 2 oil consumer has been robust this year, leading to low inventories, said the executive from China’s largest private refiner by capacity.

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