China’s oil product consumption rose 8% year on year in May to 29.73 million mt, latest data on the National Development and Reform Commission website showed. The volume also rebounded 9.9% from 27.06 million mt in April, according to S&P Global Platts calculations based on NDRC’s historical data. The increase was led by gasoline consumption, which jumped 13% year on year, while gasoil consumption rose 4.6% over the same period, NDRC data showed. NDRC didn’t provide a breakdown of volumes for each of the products. The country processed 50.02 million mt of crude oil in May, up 0.9% year on year, while its oil product output edged up 1.1% year on year to 31.33 million mt, NDRC data showed. Compared to April, China’s crude throughput edged down 0.3% in May, while its oil product output […]