Feature: Asian fuel producers, importers to continue adjusting trading strategies amid fragile demand recovery

S&P Global Platts | Jul 2, 2020 at 7:30 AM
  • Asia’s fuel consumption has picked up since the peak of the COVID-19 pandemic during March-April, but the region’s oil product producers and importers remain keen to adjust their trading strategies as demand recovery remains fragile, with buyers tightening their term purchases, while suppliers keep a lid on output volumes.
  • South Korea’s domestic gasoline demand rebounded to 7.81 million barrels in May from 6.58 million barrels in April and 5.79 million barrels in March.
  • Adapting to the uncertain demand outlook, major Southeast Asian oil importers have also started to shorten term contracts in favor of more spot cargoes, ensuring short term flexibility in their purchases.