Oil & Gas Demand Picked Up in March in China
OREANDA-NEWS. May 06, 2014. Crude oil & product oil: Crude oil output growthslowed down while refinery throughput growth picked upin March. Overall, product oil’s apparent consumptiongrowth decelerated from +4.3% in 1Q13 to +2.4% in1Q14.
Crude oil output growth slowed down from 0.9%in Jan-Feb to 0.2% in March;
Refinery throughput: up 4.8% YoY in March, anacceleration vs. 3.1% growth in Jan-Feb;
Product oil production: grew 6.3% in March vs.4.1% in Jan-Feb;
Product oil consumption: Apparent consumption of gasoline and diesel rose 14% and 0.5%,respectively, in March.
Natural gas: Both gas consumption and domestic output growth accelerated in March vs. Jan-Feb. Overall, apparent gas consumption growth decelerated from+13.4% in 1Q13 to +8.4% in 1Q14.
Gas production growth accelerated to 12.5% inMarch, up from 5.7% in Jan-Feb. Total output growth reached +7.2% in 1Q14;
Gas import: rose 4.0% to 13.8 bcm, within which,6.8bcm came via pipeline and 7.0bcm via LNG in1Q14;
Gas consumption: Apparent consumption rose10.1% in March, up from 7.3% in Jan-Feb, lifting the1Q14 growth rate to +8.4%.
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