China Oil Demand Up Over 10% In August Vs. a Year Ago: Platts

By Myra P. SaefongMarketWatch Pulse

China's apparent oil demand rose 10.2% to average 11.19 million barrels per day in August compared to a year earlier, according to a Platts analysis of Chinese government data released late Thursday. "Some of the government's stimulus measures implemented in prior months are likely filtering down through the economy," said Song Yen Ling, Platts senior analyst for Asia Pacific oil markets. Ahead of the news, November crude oil settled at $44.74, down 35 cents, or 0.8%, on the New York Mercantile Exchange.

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