China’s apparent oil demand in September climbed to the second-highest level since 2005, with a growth rate that was the sharpest in 15 months, according to a Platts analysis of Chinese government data.
Apparent oil demand in September was 42.34 million metric tons (mt), or an average 10.35 million barrels per day (b/d) – up 7.4% from the same month a year ago.
Analysts said previous stimulus measures by the local government buoyed domestic oil demand.
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