Reuters reported China's second quarter fuel demand is forecast to rebound from the first quarter, nearly matching year-ago levels, as Beijing lifts curbs to contain its coronavirus outbreak and resume the full output of the world's second-largest economy. Demand for refined fuel, including diesel, gasoline and jet fuel, in the second quarter may rise by 2.4 million b/d, or 23%, from the first quarter, said Michal Meidan, a director at the Oxford Institute for Energy Studies. Analysts at SIA Energy in Beijing predict second quarter demand for the three main transportation fuels will rise by 1.1 million b/d versus the first quarter. A rebound in gasoline demand will occur as commuters use more private cars to avoid public transport. Location technology firm TomTom's traffic index shows that congestion in major Chinese cities is matching year-ago levels during weekdays.
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Also, I read a article a couple of weeks ago that said when American's are allowed to travel, demand for gasoline will spike because people will feel safer to travel by car than by plane.
Cars use more fuel/person/mile than planes do. Let's hope this is true.
This is a good sign - April 29
This is a good sign - April 29
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group