However, the Chinese don?t agree with that fact. Zhang Jian, a petroleum analyst with China Securities, said, "I doubt the accuracy of the figure as both China's domestic crude production and crude imports are up by around 4% year-on-year in the first six months of this year. Moreover, oil product consumption in H1 was also growing."
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Chinese Oil Consumption Fell: IEA
International Energy Agency revealed a global demand forecast report on Thursday...
International Energy Agency revealed a global demand forecast report on Thursday, where it said that China's oil consumption fell by 1% in the second quarter of this year.
The IEA said that China's oil consumption had declined from April to June, mainly because of the discrepancy between high international market crude prices and artificially low domestic retail prices, making refiners reluctant to operate at full capacity.
However, the Chinese don?t agree with that fact. Zhang Jian, a petroleum analyst with China Securities, said, "I doubt the accuracy of the figure as both China's domestic crude production and crude imports are up by around 4% year-on-year in the first six months of this year. Moreover, oil product consumption in H1 was also growing."
However, the Chinese don?t agree with that fact. Zhang Jian, a petroleum analyst with China Securities, said, "I doubt the accuracy of the figure as both China's domestic crude production and crude imports are up by around 4% year-on-year in the first six months of this year. Moreover, oil product consumption in H1 was also growing."
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