Giant growth in Chinese crude oil imports

Chinese oil consumption will increase by additional 400,000 barrels per day in 2013 the London-based broker house Gibson assesses. The majority of the oil will be imported.

Photo: Colourbox

The Chinese will consume an increasing volume of crude oil in 2013. In total, the daily consumption is expected to increase by 400,000 barrels compared to 2012. So assesses Gibson, SinoShip News reports.

“It is expected that refineries across China will raise crude runs by about 4% in 2013, supporting a credible theory for substantial new demand,” Gibson states.

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