Chinese oil demand shows highest growth 2000-2003

Although China only accounts for 6.8% of world oil demand, Chinese oil demand has had the highest growth during the period 2000 to 2003 (projection). In this period Chinese oil demand has grown by 0.52 mbd and is projected by IEA to reach 5.3 mbd in 2003. At number two in oil demand growth comes the Middle East (accounts for 6.5% of world oil demand) with an increase of 0.39 mbd in the same period reaching 5.1 mbd in 2003. In third place comes the US (accounts for 26% of world oil demand) with an increase of 0.3 mbd reaching 20 mbd in 2003.

To view the development of regional oil demand on INTERTANKO’s website use the following link: Click here.