VOL. XLV

No 20

20-May-2002

SUPPLY/DEMAND

Chinas IndustrialGrowth Spurs Increasing Demand For Crude Imports

Chinas recent economic progress has caused demand for oil to exceeddomestic production, putting the country in a place similar to that of manyOECD countries that are dependent upon crude imports.Chinas oil consumption has grown from 2.1mn b/d in 1990 toaround 4.6mn b/d at present, while domestic production currently amounts toaround 3.3mn b/d.Over the next 20 yearsChinas oil production is...