FACTS: Chinese oil demand growth to slow this year

11/28/2005
Although China’s demand for petroleum products will continue to grow this year, the rate of growth may decline after unprecedented growth in 2004 of nearly 15%, said Fesharaki Associates Consulting & Technical Services Inc. (FACTS Inc.) analyst Kang Wu in a recent report.“Reliable data for the first half of 2005 has shown that demand growth has been slowing down significantly,” Wu said, adding that real petroleum products demand growth for the first half of 2005 was 5% and for the year as a whole will be 6%.Factors such as economic growth, trade, automobile sales, the use of oil to generate power, and changing prices are influencing China’s oil demand.China&rsq...
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