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Commodities Briefing - Categorized | Market Moves, Oil more

China is now the world’s largest importer of oil—What next?

Posted on 16 October 2013

Last month the world witnessed a paradigm shift: China surpassed the United States as the world’s largest consumer of foreign oil, importing 6.3 million barrels per day compared to the United States’ 6.24 million. This trend is likely to continue and this gap is likely to grow, according to the EIA’s October short-term energy outlook.
Wood Mackenzie, a leading global energy consultancy, echoed this prediction, estimating Chinese oil imports will rise to 9.2 million barrels per day (70% of total demand) by 2020………………………………………..Full Article: Source


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VRS - who has written 36995 posts on Opalesque Commodities Briefing.


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