China’s Oil Demand Rises (Upstream)

From: Upstream

China’s implied oil demand rose 4.9% in February from a year ago to the fourth highest level on record despite a holiday lull that pulled apparent consumption down from the third-highest posting on record in January.

China consumed roughly 10.14 million barrels per day of oil last month, according to Reuters’ calculations based on preliminary government data.

February’s growth rate, however, was the slowest since September, partly because of a high base a year ago, when demand hit its second-highest on record to that point.