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China’s oil demand is expected to stay weak heading into May as COVID-19 lockdowns across the country curtail travel plans during the Labour Day holiday season, analysts and traders say. Millions usually travel over the five-day holiday centred around May 1, typically bolstering fuel demand. However, forecasts from the country’s aviation regulator and data firms ...

The continued rise in cases in Shanghai despite the lockdown underscores the challenge China is facing.

(Bloomberg) -- Asian refineries are grappling with what’s expected to be a brief period of weak profits as a demand-sapping Covid-19 comeback across the region coincides with a likely surge in oil-product exports from Iran.

Read more about Asia refiners face double blow to profits from Iran and Covid resurgence on Business Standard. The virus resurgence in India and other nations apart from China is reducing consumption of products such as gasoline.

That has led to complex refining margins in Singapore falling from US$1.65 a barrel at the end of April to as low as 3 cents in mid-May.. Read more at straitstimes.com.