China’s CNPC Forecasts Record Oil Demand lweb.es/f2615 01.12.2017
China’s crude oil demand will grow by 3.4 percent this year to a record of 11.8 million barrels per day, according to a China National Petroleum Corporation forecast. Total refinery throughput will rise by 3.3 percent to 11.2 million bpd, with refiners adding 702,000 bpd of net capacity. This rising refinery demand will lift crude imports by 5.3 percent to 7.95 million bpd. CNPC predicted that net exports of diesel will surge by 55 percent this year to about 450,000 bpd.