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The China Petroleum and Chemical Industry Association (CPCIA) said the polyester industry will expect an annual increase of 8.3% in domestic consumption, to reach 15.3 million tonnes this year and 18.3 million tonnes by 2008.
China does not publish official crude oil and oil products data, but oil firms and industry bodies such as China Petroleum and Chemical Industry Association (CPCIA) collect industry data through their own channels and by their own methods, leading to discrepancies in figures.
Gasoline stocks held by two oil majors at the end of May rose 12.3 per cent from a month earlier and diesel stocks fell 4.9 per cent, according to a CPCIA report.
That CPCIA data tallies with what an industry official told Reuters early in June.
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