China becoming world oil market's 'most dynamic factor'

06/07/2004
China accounted for 40% of total growth in world oil demand during 2000-04, said Cambridge Energy Research Associates (CERA) in a report on China energy."China's growing weight in world consumption virtually assures a heavy long-term impact on energy prices, trade, and investment. In a decade, China has gone from self-sufficiency to being the most dynamic factor in the world oil market and one of the main elements in today's $40-plus/bbl price," said the report by Daniel Yergin and Scott Roberts. Click here to enlarge image"Urgent action is required [in China] to ensure that energy supplies are adequate, lest shortages become a brake on the roaring economy," Yergin and Roberts sa...
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