China has supported oil markets with its purchases of record volumes of crude oil in recent months, but it has also imported doubled volumes of fuel blending products, suggesting that the fuel demand recovery in the world’s top oil importer may be more impressive than expected, its top refiner Sinopec said on Tuesday. China’s imports of the so-called mixed aromatics, used in gasoline production, doubled between January and July 2020 compared to the same period last year, said Fairy Wang Pei, head of the research and strategy department at Unipec, the trading division of Sinopec, as carried by Bloomberg. Chinese imports of light-cycle oil (LCO), which is used in blending for diesel production, soared 115 percent in the same period, Wang said at the Platts APPEC 2020 conference. According to Unipec’s executive, fuel consumption in China was back to the year-ago levels as early as in May. The soaring […]