Asia-Pacific still Faced Short Supply of Naphtha

The gasoline demand volume in the Asia-Pacific region was predicted to be around 6.99 million barrels/day, while the gasoline supply volume was around 7.11 million barrels/day.

The diesel demand volume in the Asia-Pacific region was predicted to be around 9.02 million barrels/day, while the diesel supply volume was around 9.72 million barrels/day.

However, the naphtha demand volume in the Asia-Pacific region was predicted to be around 4.90 million barrels/day, up 1.4% year-on-year. The supply volume was around 3.58 million barrels/day, up 1.7% year-on-year. The ethylene capacity in the Asia-Pacific region was increasing in recent years, which pushed up the consumption volume of naphtha. In the meantime, some export-oriented refineries in South Korea and Japan are upgrading, and China’s oil refining capacity is growing rapidly. Accordingly, the gap between naphtha supply and demand will shrink in the future in the Asia-Pacific region.