Beijing (JLC), September 14, 2026--JLC successfully concluded its 16th Singapore Oil Seminar on September 8, 2026. Against the backdrop of ongoing Middle East geopolitical tensions disrupting global energy supply chains, the event gathered over 200 industry professionals to explore core topics including China's crude oil demand elasticity, bunker fuel market growth, naphtha industry chain restructuring and biofuel development.
Victor Yang, Chief Analyst at JLC International, first shared his insights on crude oil and CPP markets. Amid Strait of Hormuz shipping disruptions roiling global oil trade, China's crude imports fell by 13.23% in the first seven months of 2026, and the drop in the whole year will be much larger due to a high base in the last few months of last year. In June, the imports plunged to 7.06 million barrels per day, a reduction of 4.36 million barrels compared with the 2025 daily average.
As crude supply has become short and the price has surged, China is likely to reduce its CPP exports in the last quarter of the year, compared with the levels in July and August, Victor said.
In the second presentation covering the fuel oil sector, Victor shared his insights into fuel oil used both as refining feedstock and bunker fuel. Fuel oil imports used as feedstock in the refining field settled at 6.60 million mt in January-July 2026, a slump of 16.96% from a year earlier. Imports were hit by bad margins, but tend to grow in the coming months when crude supply is short.
Meanwhile, China's bonded bunker fuel imports gained 1.68% year on year, and its exports rose 6.90%. Exports were driven up by multiple factors, including surging foreign trade, more significant price advantages at Chinese ports and short supply at some Asian ports outside China.
Helen Niu, Senior Manager at JLC International, analyzed the restructuring of China's naphtha industry chain. She pointed out that shipping disruptions have driven up crude prices, driving up production costs for oil-based olefins and squeezing profit margins. However, China's established diversified olefin feedstock system has effectively buffered the impact. With steady ethylene capacity expansion, China is speeding up the improvement of its diversified feedstock system.
Chelsea Ye, Analyst at JLC International, delivered a speech on China’s biofuel industry. As Middle East tensions tighten global fossil fuel supply and economies worldwide accelerate energy transition, biofuel has drawn growing market attention. As a core global supplier, China boasts fast-growing sustainable aviation fuel (SAF) capacity and robust biofuel exports. Chelsea noted that Chinese SAF producers seized the opportunity to secure a prominent position in the global biofuel arena, driven by expanding overseas demand and domestic policy support.
The presentations were well received and sparked in-depth discussions among attendees.
This year marks the 10th anniversary of JLC’s ongoing participation in APPEC and deep-rooted presence in the Singapore market. Over the decade, we have grown hand in hand with industry practitioners, delivering market insights and decision support to clients while witnessing the industry’s cyclical shifts. We are truly grateful for the support from our peers across the energy sector.
With over 200 attendees at this event, our 10-year journey stands as solid proof of our efforts. From the inaugural to the 16th edition, JLC’s Singapore Oil Seminar has grown into one of the longest-running, best-attended and most influential energy forums hosted overseas by a Chinese private information firm.
As a leading provider of commodity data and intelligent application solutions in China, JLC offers a full range of services covering international market intelligence, research consulting, price and risk management, global trade big data, data intelligence solutions and international conferences.
Looking forward, JLC will continue to deepen its footprint in the global energy market, build high-level international exchange platforms with professional expertise, and drive deep connectivity and high-quality development across the global energy industry chain.
