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Commodities Briefing - Categorized | Market Moves, Oil more

China’s oil demand to surpass IEA forecasts, Barclays says

Posted on 24 November 2011

China’s oil consumption by 2015 will be “significantly” higher than International Energy Agency forecasts, surging 35 percent from this year, as economic expansion spurs fuel demand, Barclays Capital said.
The world’s biggest energy user may need 13.6 million barrels a day of fuel, versus an IEA estimate of 10.5 million, based on growth in China’s energy demand versus income levels in the past decade, Miswin Mahesh, London-based analyst at the bank, wrote in a report……………………………………….Full Article: Source


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