China oil demand edges up in May: Platts
SAN FRANCISCO (MarketWatch) -- China's apparent oil demand edged up by 0.5% year-on-year to 39.7 million metric tons in May, according to a Platts analysis released Thursday of recent Chinese government data. Demand was at its second lowest so far this year after April, the analysis showed. Recent liquidity easing measures by the Chinese government could allay fears of an economic slowdown in China, but "it remains to be seen if this will be enough to get both oil demand growth and retail pricing reform back on track," said Song Yen Ling, Platts senior writer for China. At last check, August crude oil fell $2.13, or 2.6%, to $79.32 a barrel in New York.