Forecasts for China
Platts has launched a new analysis platform that forecasts the key supply and demand dynamics of domestic oil and petroleum markets in China.
Platts China Oil Analytics is a web-based platform that allows energy producers, traders and analysts to access detailed supply/demand analysis, volume forecasts and news together with refining margins and trade flows spanning the Chinese oil market. This includes fundamentals for crude oil, refined petroleum products and the refining industry in China.
“China is driving demand across global oil markets, and increasingly impacting oil product supply. There remains strong interest amongst investors and producers in developing a deeper understanding of China’s oil consumption patterns and refinery capabilities,” said Karen Chan, director of Product Management for crude and refined oil products, Asia-Pacific. “Our forecasts integrated in Platts China Oil Analytics show that despite the slowdown in China’s economic growth, the near-term outlook for crude imports is surprisingly, more optimistic.”
Platts forecasts the country will remain heavily reliant on imported crude to feed its burgeoning coastal refining hubs as the development of domestic shale and other unconventional energy sources is expected to remain muted.
Platts also expects the proportion of Middle Eastern crudes in China’s overall imports will decline from 52 per cent today to under 50 per cent in the next five years as other region’s suppliers gain market share.
Issue 125 October 2015