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Heavy Chinese oil hunger growth in 2013

A number of analysts expect to see a strong growth in Chinese demand for oil during 2013 no matter which policies the new government chooses to implement in order to stimulate the Chinese economy.

According to several analysts, the Chinese oil demand will grow heavily in 2013 and more than last year as a result of an expected improvement in the Chinese economy. Barclays predicts a demand increase of 5 percent in 2013 compared to 3 to 4 percent in 2012, Platts reports.

"In terms of growth trajectory, China seems to be recovering. But we are not forecasting a really sharp rebound yet as we're still watching for more aggressive stimulus measures to be announced”, Barclays analyst Sijin Cheng says.

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