HLSH International: The weak demand for PETROCHINA is expected to continue until mid-next year

Janet Kong, the International CEO of HLSH, stated that China's oil demand may remain sluggish at least until the middle of next year, unless the government introduces new stimulus policies early next year.

She noted that government policy remains the biggest variable affecting China's economic outlook, and the market is closely watching whether the government will introduce more stimulus measures. She believes that any measures to increase fuel export quotas for refineries could stimulate demand. At the same time, China's procurement to fill its strategic petroleum reserves may also drive up imports, but due to high inventory levels, it is currently unclear what the scale of further government procurement will be