China to continue to drive global oil demand growth

Chinese oil appetite will account for almost half of global oil demand growth in the next five years but could be limited by the debt crisis in OECD countries

China will provide almost half of oil demand growth between 2010 and 2015, according to the latest oil market report from the Paris-based International Energy Agency (IEA).

"China is currently seen generating 40% of 2010 incremental demand and nearly 45% of 2010–2015 growth," the agency said in the report.

Higher-than-expected preliminary OECD demand accounted for a slight 60,000 bbl/day upwards revision to the IEA's previous global forecast for 2010, nudging-up year-on-year growth expectations

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