China to import nine million barrels of oil per day in 2025 – OAPEC bulletin

Since local petroleum production is unable to meet China’s growing needs it will have to meet its growing demand for oil from abroad, in particular the Middle East. Based on a huge population of 1.3 billion, the Chinese energy market has become the world’s second largest energy market after the USA, it added.

China’s rapid economic growth has produced a similar growth in its oil demand which reached 7.3 percent between 1991 and 2002. Its consumption of oil has doubled turning it into a net importer of oil since 1993 and in 2002 it outpaced Japan as the biggest consumer of oil after the USA.

KUNA