Global oil demand is expected to grow in excess of 1.5 milion b/d to 1.6 million b/d this year, with the "in-house" view calling for a stock buildup in the next few months, he said.Ĭhina's oil demand in Q1 is estimated to have grown 830,000 b/d year on year, jumping to 1.3 million b/d in Q2 on the back of last year's weak base, S&P Global Commodity Insights said in a note on April 28. I think it's fair to say globally and in China, domestic air travel is back to pre-pandemic levels if not above in many places but long-haul is not." "The bit missing from the China demand equation is long-haul jet travel, long-haul aviation. "Gasoline demand in China is still pretty good," possibly as a result of a "post-COVID mindset," Muller said. "What has surprised on the upside" from recent Asia holidays is gasoline demand in China, the Vitol director and head of Asia said. Global gasoline demand is picking up the slack of jet fuel as long-haul air travel is lagging a recovery in domestic flights, Vitol's Mike Muller told the Gulf Intelligence webcast on May 7. Receive daily email alerts, subscriber notes & personalize your experience.
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