Wednesday, April 21, 2010

News: China oil demand 12.8% growth

Chinese economy growth a 12%, as well as China's oil demand

Chinese growth and resurfacing from their crisis is in a steady state. China was criticized because their economy actions, such as devaluation of Yuan, but China is showing a fast recovery (so fast for some people, who said that China's economy is a bubble) and as we informed, China's economy growth 12%, but also is his oil demand.

According to an analysis of official data by Platts, the energy information branch of McGraw-Hill Cos, Chinese oil demand rose 12.8% in March, reaching a purchase of 8.12 million barrels per day over March, being this the seventh month of a raising in demand oil for China. being the top 8.5 million barrels per day at February. This (Patts says) is helped by the state owned companies Sinopec, PetroChina and China National Offshore Oil Corp who increased their refining capacity.

Also as Chinese economy growth, their gross domestic product (GDP) growth a 11.9% in the first quarter of 2010.

Is hard right now to forecast what would be the roof of the Chinese oil demand. Right now, the biggest consumption are made by transportation (5% of personal cars only of 44% of the total consumption) and industry, owned by the state.

Feel free to say your own forecast, commenting the post below these lines

More information: Yahoo News - China oil demand up

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