Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 9 August 2024.

INSIGHT: The future of gasoline demand under India’s new fuel efficiency norms
By Man Yiu Tse 08-Aug-24 12:00 SINGAPORE (ICIS)–India’s newly proposed Corporate Average Fuel Efficiency (CAFE) norms for passenger cars until 2037 will drive a significant shift towards compressed natural gas (CNG), hybrid, and electric passenger cars, reducing the dominance of gasoline models and influencing the long-term trajectory of gasoline demand.

OUTLOOK: Asia Group I base oils supply constraints to persist in H2 amid demand uptick
By Michelle Liew 08-Aug-24 11:03 SINGAPORE (ICIS)–Asia’s Group I base oils supply, especially for heavy neutrals, is expected to remain tight in H2 2024 despite subdued demand, which may pick up towards September.

PODCAST: China’s Third Plenum signals optimism for Asia’s propylene markets
By Damini Dabholkar 08-Aug-24 00:32 SINGAPORE (ICIS)–The third plenary session of the Chinese Communist Party (CCP) Central Committee recently concluded in July, with the CCP underlining the country’s long-term economic strategy. This session, a significant event in China’s economic planning, serves as a guide for both immediate and long-term policies.

OUTLOOK: Asia mixed xylenes market could continue to face headwinds
By Jasmine Khoo 07-Aug-24 10:44 SINGAPORE (ICIS)–Mixed xylenes (MX) in Asia for both the isomer and solvent grades are expected to continue facing headwinds from various market factors.

Asia shares rebound after sharp losses, oil prices rise more than $1/barrel
By Nurluqman Suratman 06-Aug-24 18:32 SINGAPORE (ICIS)–Asian shares rebounded on Tuesday, staging a relief rally after historic losses the previous day, as fresh US economic data for July alleviated recession fears.