China's Property Slump Cuts Diesel Demand to 15-Year Low

China's property market is in a big slump, which has led to a huge drop in diesel demand.

Diesel is used a lot in construction, so with fewer new buildings being made, there's less need for it.

This has caused diesel production to fall to its lowest level in 15 years.

At the same time, China's oil refiners are making more petrochemicals instead of fuel.

This shift started a long time ago but has become more important recently.

The government is also pushing for more electric trucks, which means even less demand for diesel.

So, while the property market is struggling, the petrochemical industry is growing.