The demand for oil in China is expected to grow 4.3% to exceed 11 million barrels a day in 2016, said China National Petroleum Corporation (CNPC).
In their report, CNPC’s research team expected an increase of about 460,000 barrels per day (bpd) to reach 11.32 million barrels in 2016 as compared to the previous year.
Oil imports are also projected to grow 7.3% to 7.14 million bpd this year.
Meanwhile, the research unit predicted a 7.3% growth in natural gas consumption in 2016 as compared to 5.7% in 2015.
