• About
  • Advertise
  • Privacy Policy
  • Contact
Thursday, October 2, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Chinese Gasoline Demand Driving Oil Prices Higher

Stephen M.Cby Stephen M.C
June 17, 2021
Reading Time: 3 mins read
Stephen M.Cby Stephen M.C
in Securities/Markets
0
Chinese Gasoline Demand Driving Oil Prices Higher

A strong demand for gasoline in China drove crude oil demand higher and subsequently increased the prices of the commodity in the market, according to a Bloomberg report.

According to Bloomberg, Brent crude price rose above $70 in the world market whilst the U.S. benchmark has also risen to $72.71 a barrel in the early hours of Thursday, June 17, 2021.

There is a spike in oil prices in recent days as global demand continues to recover from the COVID-19 pandemic while OPEC+ keeps a tight rein on supply and speculators.

RelatedPosts

Bulls Charge as GSE Kicks Off Month with 70% Year-to-Date Gains

Fan Milk Sweetens Market with 1.13% Surge Despite GSE’s Bleak Turnover Drop

SEC Ghana Targets Forex Fraud with Upcoming Regulatory Guidelines

The past week has seen a jump in prices of oil amid bullish outlook demand from international Energy Agency and the Organization of the Petroleum Exporting Countries (OPEC).

However, according to data provided by Bloomberg, Gasoline demand in May 2021, was 5 percent higher than it was in the last pre-pandemic year. Diesel consumption, on the other hand, remained largely flat.

China is among one of the biggest swing factors in oil prices. The available data has added to the already strong evidence that China influences the world market prices of oil even though the influence of other factors cannot be underestimated. For instance, whilst seasonal refinery maintenance may send oil prices down, news about improving demand invariably pushes them higher.

Moreover, crude oil import data from the world’s top importer has been particularly bullish for prices. For months now, China has been aggressively buying every available oil in the market and if care is not taken there will be shortage of oil in the market in the short-term.  As a result, prices rose, and they are still rising, prompting doubts that the buying spree will continue.

Meanwhile, an oil market expert, Clyde Russell, averred that the immediate outlook is not particularly bullish because of the refinery maintenance season.

“Some 1.2 million bpd in refining capacity went offline for regular maintenance in May and will remain offline until the end of this month June. This would mean lower crude oil imports during the period.”

Indeed, import data for May showed a 15-percent drop from a year earlier. This was expected and did not have a lasting effect on prices. Still rebounding, demand elsewhere may dampen China’s thirst for crude as it pushes Brent above $72 per barrel and West Texas Intermediate (WTI) above $71 per barrel.

It is worth noting that, rising crude prices are part of a broader commodity price surge caused by supply chain disruptions resulting from the pandemic and threatening China’s stellar recovery. China has tried to rein prices of the oil market but that also comes with a hefty social cost.

Crude oil is one of the most in-demand commodities. Brent Crude and West Texas Intermediate (WTI) are the two most traded grades of oil in the market. While Gasoline is a fuel made from crude oil and other petroleum liquids, its demand affects the price of crude oil. Crude oil prices reflect the market’s volatile and liquid nature, as well as oil being a benchmark for global economic activity.

READ ALSO: BoG Rejects Over $50 million Bids Submitted in Forex Forward Auction

Tags: Brent crudeChinaGasoline
Please login to join discussion
Previous Post

Political class, not interested in long term development plan- Steve Manteaw

Next Post

Diana Ross releases album after 15 years hiatus

[mc4wp_form id="1264"]

Related Posts

Bulls Charge as GSE Kicks Off Month with 70% Year-to-Date Gains
Securities/Markets

Bulls Charge as GSE Kicks Off Month with 70% Year-to-Date Gains

October 2, 2025
President John Dramani Mahama
General News

Beyond US Visa Restriction Reversal: Ghana Moves to Renegotiate 15% Tariff and Secure AGOA Renewal

October 1, 2025
President John Dramani Mahama
General News

Mahama Commissions New Ambassadors, Demands High Standards of Service

October 1, 2025
Vance Signals US Indifference To India-Pakistan Conflict
USA

Vance Warns Of Layoffs If Shutdown Drags On

October 1, 2025
Vendor Engagement Seminar
Extractives/Energy

GNPC Hosts Maiden Vendor Engagement to Boost Local Content 

October 1, 2025
AI Apps to Transform Senior High School Education
General News

AI Apps to Transform Senior High School Education

October 1, 2025
Bulls Charge as GSE Kicks Off Month with 70% Year-to-Date Gains
Securities/Markets

Bulls Charge as GSE Kicks Off Month with 70% Year-to-Date Gains

by Stephen M.COctober 2, 2025
President John Dramani Mahama
General News

Beyond US Visa Restriction Reversal: Ghana Moves to Renegotiate 15% Tariff and Secure AGOA Renewal

by Evans Junior OwuOctober 1, 2025
President John Dramani Mahama
General News

Mahama Commissions New Ambassadors, Demands High Standards of Service

by Evans Junior OwuOctober 1, 2025
Vance Signals US Indifference To India-Pakistan Conflict
USA

Vance Warns Of Layoffs If Shutdown Drags On

by Comfort AmpomaaOctober 1, 2025
Vendor Engagement Seminar
Extractives/Energy

GNPC Hosts Maiden Vendor Engagement to Boost Local Content 

by Prince AgyapongOctober 1, 2025
AI Apps to Transform Senior High School Education
General News

AI Apps to Transform Senior High School Education

by Silas Kafui AssemOctober 1, 2025
Bulls Charge as GSE Kicks Off Month with 70% Year-to-Date Gains
President John Dramani Mahama
President John Dramani Mahama
Vance Signals US Indifference To India-Pakistan Conflict
Vendor Engagement Seminar
AI Apps to Transform Senior High School Education
[/vc_row_inner]

Recent News

  • Bulls Charge as GSE Kicks Off Month with 70% Year-to-Date Gains
  • Beyond US Visa Restriction Reversal: Ghana Moves to Renegotiate 15% Tariff and Secure AGOA Renewal
  • Mahama Commissions New Ambassadors, Demands High Standards of Service
  • Vance Warns Of Layoffs If Shutdown Drags On
  • GNPC Hosts Maiden Vendor Engagement to Boost Local Content 
The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.