China’s oil demand at lowest of 3 years in 2016
The report revealed that the country’s oil demand growth declined to 2.5% in 2016 from 3.1% and 3.8% in 2015 and 2014 respectively.
The slowdown in oil demand growth was also attributed to the slower growth in the economy by 6.7% in 2016, which is the slowest of 26 years, and it is expected to gain speed again in 2017 as the mining industry has revived and increased the consumption for trucks and diggers.
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