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Page added on May 22, 2013
China’s SUV Fleet to Drive Oil Demand Growth
China’s growing fleet of sport utility vehicles will offset gains in fuel efficiency and continue to drive oil-demand growth, according to Sanford C. Bernstein Research.
Chinese oil consumption will increase at an average annual pace of 5 percent to reach 12.9 million barrels a day in 2018, from 9.6 million barrels a day in 2012, the investment research company said in a report e-mailed today. Its forecast is higher than the International Energy Agency’s outlook for a 4 percent average annual increase for the same period.
The proportion of SUVs in the Chinese passenger fleet should double to 20 percent in 2020 from its current size, and the total number of vehicles should also double to more than 220 million at the end of the decade, Bernstein said.
As oil demand shifts to transport from industry, gasoline consumption has grown 15 percent year-to-date, while diesel use decreased 1.8 percent, it said.
“While China used to be a net importer of diesel and exporter of gasoline, we see this reversing,” Bernstein said. “With China’s refineries increasingly configured to meet gasoline demand, we see China increasingly being long diesel, which has negative implications for the region’s refineries.”
10 Comments on "China’s SUV Fleet to Drive Oil Demand Growth"
Arthur on Wed, 22nd May 2013 4:10 pm
Famous Asian wisdom in action.
Plantagenet on Wed, 22nd May 2013 5:13 pm
In the communist worker’s paradise, every communist party cadre is entitled to have an SUV!
Kenz300 on Wed, 22nd May 2013 7:32 pm
Buy a bicycle… it is cleaner, cheaper and healthier for you.
17 Reasons Why Bicycles Are the Most Popular Vehicle in the World Today
http://ecolocalizer.com/2008/06/16/17-reasons-why-bicycles-are-the-most-popular-vehicle-in-the-world-today/
J-Gav on Wed, 22nd May 2013 8:04 pm
Well, I guess that’s an appropriate role for Sucky Useless Vehicles …
DC on Wed, 22nd May 2013 9:20 pm
In the welfare capitalist consumer’s paradise, every consumer cadre is entitled to finance a depreicating SUV.
rollin on Wed, 22nd May 2013 9:26 pm
There will be at least 6 Chinese always riding in them, so it’s OK.
Billc on Wed, 22nd May 2013 11:37 pm
The best thing a like about this article is the chick. Yummy.
BillT on Thu, 23rd May 2013 1:28 am
Asian SUVs are smaller than their bloated American cousins, plus, as rollin said, they will not be used to haul one fat ass to Walmart. They will likely be family vehicles used sparingly or by the government.
Others on Thu, 23rd May 2013 3:28 am
Yes what they are buying are CUVs which has car chassis.
Compared the the American SUVs with Truck chassis and those pickups those vehicles are much more fuel efficient.
kervennic on Thu, 23rd May 2013 1:23 pm
I am sure her boyfriend rides a bicycle.