Oil Crisis Ahead?

The IEA is expecting a boom in oil demand from China, while China is cooling off its economy, and interest rates are rising in the United States and around the world. Something has to give here.
Is China suddenly becoming energy efficient, where it can cool off its economy and at the same time use more oil to produce more goods for exports?

Or are the Chinese economic statistics lying? In other words, is the IEA basing its forecasts on bad data? In a country where the government owns the private companies that it is steadily privatizing and peddling onto global stock markets, you have to take much of what they put out with a grain of salt.

Rigzone