Related Articles
Forward article link
Share PDF with colleagues

SUV boom bolsters Chinese oil demand

Despite a slowing economy, some bullish forecasters predict China’s oil demand will be stronger for longer as transportation, rather than industrialisation, spurs growth

Analysts at Bernstein Research remain bullish on China’s oil demand growth, forecasting 11.3 million barrels per day (b/d) by 2015, which excludes the filling of strategic petroleum reserves and is 500,000 b/d above the current consensus. China consumed 9.6m b/d in 2012. They say demand will be driven by the population’s rising taste for gas-guzzling sports utility vehicles (SUVs), which, despite Beijing’s aggressive fuel efficiency targets, looks set to remain the fastest growing sub-segment of China’s ballooning vehicle market. The number of vehicles on China’s roads is expected to double to more than 220m by 2020. In an attempt to ensure it

Also in this section
Reality bites for Canada
27 March 2017
Canada's export plans are among the world's most ambitious. And slowest to get moving
The US builds for the future
27 March 2017
Rapid rebalancing of the world's seaborne gas market will be crucial to the success of US exports
Glimmers beyond the glut
27 March 2017
Global exports are heading for a hefty surplus. It will take a brave developer to sanction a sizeable new plant without lining up buyers first