World’s Top Oil Guzzlers Surpass Pre-Pandemic Consumption
- Chinese oil demand to rise 13% in 4Q from 2019: SIA Energy
- Gasoline consumption improving in India, although diesel down
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Some of the world’s biggest economies are seeing oil consumption turn the corner and even surpass pre-pandemic levels as falling Covid-19 infection rates drive a recovery in activity.
Oil demand in China, the world’s top energy consumer, will be 13% higher next quarter than in the same period in 2019 before the pandemic, according to SIA Energy. Indian fuel sales extended a rebound last month, while American consumption of petroleum products just hit a record high. Europe has also just had its best August for gasoline demand in 10 years, IHS Markit said.