China, the world's second-biggest energy consumer, may see a 9% increase in monthly oil demand in the second-half of 2010 as compared with previous year, the China Daily reported. According to analysts, monthly oil demand in China may increase 9% to 35.5 million metric tons, while monthly oil output may rise 4.6%, lagging behind the expansion in consumption.
China imported more than half of its crude oil needs in 2009 to meet the demand of its fast growing industries. By 2015, the country's home production of oil may only reach 42% of its oil requirements. However, the expanding output capacity of refining industry in China surpassed the domestic demand, which renders China a net exporter of gasoline and diesel for at least two to three years, source reported.
