Middle East Economic Survey


No 26



Chinese Oil Demand Growth In 2007 Below Consensus At 4.5%, Says ISI

Chinese oil demand growth in the period January-May 2007 is running at 4.5%, well below analysts consensus view of 7%, based on Chinese customs data, according to New York based ISI Group. The calculation disregards storage but takes into account a 9.9% increase in crude imports year-on-year (3.195mn b/d from 2.906mn b/d) and a 6.1% decline in products imports...