Oil Executives Are Surprisingly Optimistic on Chinese Demand
- Trafigura Group relatively positive on fuel consumption there
- Black Gold’s Ross predicts surge in oil demand next quarter
An oil tanker unloads imported crude oil at Qingdao port in Shandong province, China.
Photographer: AFP/Getty Images
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Doom-laden stories about China’s economy aren’t portraying an accurate picture of energy demand in the top crude importer, according to oil luminaries at a major conference in Asia.
“There’s a lot that’s good about what’s going on in China,” Ben Luckock, co-head of oil trading at Trafigura Group, told hundreds of attendees at the APPEC by S&P Global Commodity Insights in Singapore on Monday. “In terms of China demand, the property market is bad, but the other parts of the economy aren’t.”