China oil demand losses may outlast Iran war - Bloomberg

China’s oil imports may not fully recover from the Iran war, with analysts saying the conflict accelerated a longer-term shift away from transportation fuels such as gasoline and diesel, Bloomberg reported on Monday.

Rystad Energy estimated that 200,000 to 600,000 barrels per day of transport demand lost during the conflict may not return this year, while Energy Aspects put the permanent loss at about 300,000 barrels per day, the report said.

China’s crude imports are expected to fall by 3.3 million barrels per day this quarter from a year earlier, according to FGE NexantECA, as supply disruptions coincide with a halt in stockpiling, refinery run cuts and a ban on fuel exports, according to the report.