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China - july oil imports hit record high

China - july oil imports hit record high Source: www.fibre2fashion.com
Date: 09-08-2013
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China's crude oil imports jumped 19.6 percent in July from a year earlier to a record high of 26.11 million tons, or 6.18 million barrels a day (bpd), government data showed Thursday.
 
July imports also grew 17.8 percent from June's 22.17 million tons (5.60 million bpd), the General Administration of Customs said on its Website. The figure surpassed the previous record of 6.03 million bpd logged in May 2012. China, the world's second-biggest oil consumer after the US, imported 5.68 million bpd in the first seven months of the year, up 1.4 percent from the same period of 2012.
 
The country will see its energy demand peak between 2030 and 2035 on the back of expanding industrialization and urbanization, with its energy consumption growing at an annualized pace of 4.5 percent in the next 20 years, the Ministry of Land and Resources forecast has, state-run Xinhua News Agency reported earlier this year.
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