Chinese oil demand is likely to remain subdued until at least the middle of next year, according to Janet Kong, chief executive officer of Hengli Petrochemical International Pte.

"It’s difficult to find a very bright spot unless the government rolls out a new policy at the beginning of next year,” she said on the sidelines of the Financial Times Commodities Asia Summit in Singapore.

Asia’s largest economy is the world’s biggest importer of crude, but sluggish growth, trade wars unleashed by President Donald Trump and the continued electrification of its transport fleet are all damping consumption. Even petrochemicals, often cited as one of the few sectors where demand is rising, are struggling with overcapacity.

Also Read: Trump signs bill to deepen US-Taiwan ties amid China concerns

See Full Page