Chinese oil demand is set to grow by 760,000 barrels per day (bpd) this year, OPEC said on Thursday, raising slightly its demand growth outlook for China while leaving global oil demand projections unchanged from last month. China’s oil demand is now expected to average 15.61 million bpd this year, up by 760,000 bpd year-over-year, OPEC said in its Monthly Oil Market Report (MOMR) today.
The latest growth estimate is higher than the 710,000 bpd growth expected in last month’s report. While raising the outlook on China, OPEC left its…OPEC Raises Forecast For China’s Oil Demand Growth Again
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