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China’s oil demand hits record high in December 2014

by ChemOrbis Editorial Team - content@chemorbis.com
  • 29/01/2015 (16:34)
China’s oil demand posted all time high in December 2014, according to media reports. The country’s apparent oil demand rose 5.3% year over year to reach 44.96 million tons, an average 10.63 million barrels per day (bpd).

In the last quarter of 2014, the country’s apparent oil demand increased to 10.34 million bpd from 9.89 million bpd owing to rising consumption and the government’s monetary easing measures.

For the full year, total oil product imports plunged 24.2% on the year to 30 million tons to post the lowest level since 2005 while exports rose 4.1% to 29.67 million tons.
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