China’s Oil Demand Surges 0.5% in May

Rigzone reported that according to recent Chinese government data, China’s oil demand surged 0.5 percent in May to 39.72 million metric tons.

As quoted in the market news:

Refinery processing rates for May contracted 0.7 percent year on year to 38.33 million mt, or 9.06 million bpd, according to data from China’s National Bureau of Statistics (NBS) released June 9. May’s daily processing volume was the second lowest this year after a processing rate of 9.03 million bpd in April.

Click here to read the full Rigzone report.