China’s Oil Demand Will Surprise to the Upside in 2019

Hellenic Shipping News:

Contrary to some observers who focus intently on trade data as a proxy for demand, China’s total oil product demand rose by only 150,000 b/d in 2018. This is part of the reason why the global oil market is so weak as the year comes to an end. China’s oil demand will surprise again in 2019, but this time by rising by over 400,000 b/d, according to ESAI Energy’s latest China Watch. This rebound is comprised mainly of non-marketed naphtha at two new petrochemical integrated refineries, as well as LPG demand from a wave of PDH investment.

Peace Deal in South Sudan adds another 70,000 b/d of crude to market

Hellenic Shipping News:

As the market eagerly awaits an OPEC+ deal, non-OPEC producers continue to make gains. Sudan and South Sudan are likely to raise crude oil production in 2019, according to ESAI Energy’s recently published Africa Watch. A peace deal in September halted South Sudan’s five-year civil war between forces loyal to President Salva Kiir and others backing Vice President Riek Machar. The peace deal has, for now, stopped fighting that has decimated Sudan and South Sudan’s crude production since the latter’s independence in 2011.

Peace deal in South Sudan adds crude to market

World Pipelines:

As the market eagerly awaits an OPEC+ deal, non-OPEC producers continue to make gains. Sudan and South Sudan are likely to raise crude oil production in 2019, according to ESAI Energy’s recently published Africa Watch. A peace deal in September halted South Sudan’s five year civil war between forces loyal to President Salva Kiir and others backing Vice President Riek Machar. The peace deal has, for now, stopped fighting that has decimated Sudan and South Sudan’s crude production since the latter’s independence in 2011.

China LPG Imports to Rebound

Hellenic Shipping News Worldwide:

China’s LPG imports will rebound in 2019 after dismal growth of a little over 20,000 b/d in 2018, according to ESAI Energy’s newly published Global LPG Outlook. A new wave of PDH investment will reignite Chinese demand. In a market flush with new supply, exporters will count on an uptick in Chinese demand to stave off a global glut.

China LPG imports to rebound

World Pipelines:
China’s LPG imports will rebound in 2019 after dismal growth of a little over 20 000 bpd in 2018, according to ESAI Energy’s newly published Global LPG Outlook. A new wave of PDH investment will reignite Chinese demand. In a market flush with new supply, exporters will count on an uptick in Chinese demand to stave off a global glut.