China’s Oil Demand, Supply to Be Balanced This Year

China’s oil demand and supply will be balanced this year as the world’s second-biggest energy user bolsters stockpiles and boosts fuel conservation, the nation’s top economic planner said.

Tightness in coal and power supplies in China will ease in 2007, the National Development and Reform Commission said in a statement distributed at the government’s 2006-2007 economic operations press conference in Beijing today.