Wednesday, September 9
11:00 SGT/CST | 13:00 AEST | 08:30 IST (1 hour)
Covid-19's impact on China's oil market
- Independent refiners’ crude imports soar and have become more diverse
- Changes in China’s oil product supply and demand structure
- Comparison of operating environment and refining margins faced by State-run refiners, independent refiners and fuel blenders and traders under the “floor price” mechanism
- Progress towards reforms and marketization
- Prospects for the oil industry during the 14th Five-Year Plan period 2021-2025
Amanda Zhao, General Manager, Global Sales and Marketing, JLC
Impact of Covid-19 on the oil markets - what is the state of recovery?
- Asia oil demand, among its major economies, is well on the way to recovery, but some countries have rebounded better than others.
- China has led the recovery, buying record-high crude volumes for 3 consecutive months.
- India’s recovery has been slow, with below-average oil imports and refinery runs for 3 straight months.
- South Korea has largely recovered, keeping its crude imports steady from March onwards.
- Japan lagged in recovery, with its oil imports at below-average levels for 4 months, including hitting all-time low levels.
- Diesel, gasoline and jet fuel have largely rebounded from April’s multi-year lows – what’s the outlook for each product going forward?
Yan Chong Yaw, Director of Oil Research & Forecast, Refinitiv