Singapore—China’s apparent oil demand in May fell to its lowest level in nine months, contracting by 0.7% year on year to an average 9.44 million b/d, reflecting continued weak macroeconomic indicators, according to Platts estimates based on recently released government data. This is the first year-on-year contraction in apparent demand since January this year, when it fell by 6.4%, and follows three months of relatively lackluster growth.
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