China to consume 63% more oil in 2020 compared with 2006

China is expected to consume 62.5 percent more oil in 2020 compared with 2006 as fast economic growth will continue to fuel domestic oil demand, says a government think tank.

China’s oil consumption would rise from 346.6 million tons in 2006 to 407 million tons in 2010 and 563 million tons in 2020, the Chinese Academy of Social Sciences forecast in a new report.
Oil demand would grow by an annual average of 4.5 percent from 2007 to 2010 and an annual average of 3.3 percent from 2010 to 2020, it said.

The rise in refined oil demand would outpace total demand over the next 13 years, with gasoline demand up 5.7 percent annually, helped by a booming automotive industry. Kerosene demand would grow by 5 percent annually and diesel oil 4.2 percent.

Xinhua