. China’s implied oil demand grew 3.5 percent in June, as rising air travel and vehicle usage boosted fuel consumption, but a drop in passenger car sales amid a recent stock market rout could limit demand growth over the next few months. China consumed roughly 10.56 million barrels per day (bpd) of oil in June, up from 10.20 million bpd in the same month a year ago and up 2.3 percent from 10.32 million bpd in May, according to Reuters calculations based on preliminary government data. That would mean China’s implied oil demand in the first half of 2015 was up 5.7 percent year-on-year at 10.43 mln bpd, using the preliminary data. Demand growth, however, may weaken after China’s automakers association cut its 2015 forecast for vehicle sales growth to a meager 3 […]