China's oil products demand: despite constraints, bullish for global crude

06/05/2000
This article and the article by David Pietz on p. 60 were adapted from a study on the outlook for China's energy sector by ESAI.During the last 10 years, there has been a great deal of excitement over the potential of China's growing energy demand to push regional and global oil markets to ever-new heights.By and large, these euphoric forecasts have yet to materialize. The "China projections" ignored two key aspects of the Chinese economy in general and the oil sector in particular: 1) economic growth was unlikely to sustain itself at a double-digit pace; and 2) the intrusion of government policy was likely to inhibit demand.During the next 10 years, these two factors are likely t...
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