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China oil demand predicted to take off

Posted on 21 August 2013

Wood Mackenzie, the energy consultant, has said China is on track to spend $500bn a year on crude oil imports by 2020, in one of the most bullish forecasts yet of oil demand growth in the world’s second-largest economy.
Analysts at the Edinburgh-based group, one of the most respected analysts of the oil market, said Chinese net oil imports would rise to 9.2m barrels a day by 2020. The figure includes refined products such as diesel and gas as well as crude oil………………………………………..Full Article: Source


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