Chinese energy demand makes tentative recovery
A rebound in oil demand and gas consumption remaining largely unscathed are encouraging signs, but a global economic slump and trade tensions could undermine further progress
China’s oil and gas demand is growing again as the world’s largest energy consumer works to ramp up activity now its Covid-19 outbreak is largely under control. But the recent rebound in domestic oil and gas consumption may be difficult to sustain over the rest of the year, as recent data for the Chinese economy suggests an uneven and difficult road to recovery that could weigh on energy demand. Recent indicators for China, which is also the largest importer of oil and gas in the world, were encouraging and indicate the energy market is shaking off the virus shock. Crude oil imports climbed by 1.7pc from March, to 40.43mn t, or the equivalent of 9.84mn bl/d, according to data released by Chi
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