Highlights Oil product demand may fall by 4% from original estimations Jet fuel, gasoil, gasoline most hit Analysts to observe government’s policy adjustment China’s oil product demand was under downward pressure in March as the spread of omicron variant has caused short-term lockdowns in several cities, analysts said on March 14. Receive daily email alerts, subscriber notes & personalize your experience. Register Now City councils of Shenzhen and Dongguan have announced lockdowns in the two manufacturing hubs in southern China during March 14-20, following the Changchun in the northeast. This is expected to lead to another slowdown in energy consumption, following Winter Olympics. Shenzhen was China’s third-biggest GDP contributor in 2021, following the capital city Beijing and financial center Shanghai, while Dongguan ranked twenty-third. Sources in Shenzhen and Dongguan told S&P Global Platts Commodity Insights that the government had banned inter-city transports and shut factories in the industrial parks. […]