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Chinese oil demand continues growth in October

GasBuddy Blog -- China's thirst for crude oil continues to increase, according to a recent analysis of Chinese government data, according to Platts, even as demand in developed countries continues to be weak.

According to the report, China's apparent oil demand rose close to 7% year over year in October, the latest month for which data is available. That puts Chinese demand at an average of 9.76 million barrels per day, nearly half of what demand is in the United States.

October demand was demand was slightly lower than the record 9.8 million b/d in September and the 9.77 million b/d seen in February this year, the Platts report said.

"We continued to see strong growth in apparent oil demand in October, particularly after...


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Submitted Nov 27, 2012 By: PD
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REPLIES (newest first) Post a Reply
honda0105
Champion Author Tallahassee

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Message Posted: Nov 30, 2012 5:56:54 AM

nothing new here.
danmckdude
Rookie Author Detroit

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Message Posted: Nov 29, 2012 10:47:56 AM

I would like to see prices drop because of China's increased demand.
mainenightowl
Champion Author Maine

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Message Posted: Nov 29, 2012 9:52:17 AM

I agree that we need to become more self-sufficient and able to use our own resources that are produced right here in this country rather than rely on oil from the Mid-East. I agree with many posts here that most (if not all) of the Mid-East oil will end up going to China eventually. I just hope we don't end up in an oil war with China when this happens.
joeschmo12
Champion Author New York

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Message Posted: Nov 28, 2012 11:08:21 PM

china's going to eat up the world's oil
Wanda127
Champion Author Florida

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Message Posted: Nov 28, 2012 7:01:18 PM

This is another reason we need for the U.S. to be self sufficient because China will be needing most of the mid-east oil.
spiderjay
Champion Author Little Rock

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Message Posted: Nov 28, 2012 6:31:53 PM

yes i see that
boldrph
Champion Author Topeka

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Message Posted: Nov 28, 2012 3:00:31 PM

if china uses 1/2 what usa uses and has 4-5 times the population that means the average chinese person uses about 15% what the average american uses ... today. i wonder what it'll be like in 10 years?
NorthglennBill
Champion Author Denver

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Message Posted: Nov 28, 2012 2:41:51 PM

Not long ago there were articles reporting that the Chinese oil demand was falling and that was one reason that the price of oil was falling. Hard to know what to believe.
72_Monte
Champion Author Twin Cities

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Message Posted: Nov 28, 2012 2:06:46 PM


And it will continue.
TC5504
Champion Author West Virginia

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Message Posted: Nov 28, 2012 2:05:16 PM

No big surprise.
HA4CNN
Champion Author Toronto

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Message Posted: Nov 28, 2012 2:02:54 PM

They will only cause world demand to go up and it will cost every one more.
midnightsdc
Champion Author Ontario

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Message Posted: Nov 28, 2012 2:01:24 PM

Gee....why don't we sell them a bunch of oil so we need to buy from the Arabs!
rodzilla123
Champion Author San Diego

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Message Posted: Nov 28, 2012 2:00:30 PM

Almost surprised, their under a sizable Recession along with Europe, Japan, and, Oh Yes... America!!
Isea11
Champion Author New York

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Message Posted: Nov 28, 2012 1:55:33 PM

Good for the Chinese.
No1ConMan
Champion Author Memphis

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Message Posted: Nov 28, 2012 1:54:54 PM

This should come as no surprise to anyone as they are doing more and more production that used to be done here and they are subsidizing that with government money. Plus they are increasing production/usage on their own as their demands increase and life styles improve.
73amx
Champion Author Allentown

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Message Posted: Nov 28, 2012 1:53:35 PM

your supplies are up. China needs oil.
Does anyone see an opportunity here?
smoketown
Champion Author Cincinnati

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Message Posted: Nov 28, 2012 1:52:55 PM

Maybe BP can help them out.............
bluebird1
Champion Author Toronto

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Message Posted: Nov 28, 2012 1:51:00 PM

Read before commenting ie. can't be old news since its data up to Oct. M/e & the 'same old' or same last 6 mos. is what the article really is stating - despite many developed countries waning oil use, China continues to go up!!!!
OnEmptyMO
Champion Author St. Louis

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Message Posted: Nov 28, 2012 1:49:39 PM

And we are suppose to believe what China is saying?
tonoplast
Champion Author Lexington

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Message Posted: Nov 28, 2012 1:48:44 PM

Same ol' same ol'.
sp364TN
Veteran Author Memphis

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Message Posted: Nov 28, 2012 1:48:05 PM

nothing new
Suzzoom
Champion Author Nevada

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Message Posted: Nov 28, 2012 1:46:50 PM

India, too, but we don't see as much about that country because it's not perceived as much of an economic rival as China. But how many of you have called a tech support center that turns out to be located in Beautiful Downtown Bombay?
ace12012
Champion Author Phoenix

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Message Posted: Nov 28, 2012 1:44:37 PM

read it before.
eaglev
Champion Author Oklahoma City

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Message Posted: Nov 28, 2012 1:44:26 PM

This has been the same thing for the last 6 of 8 months
smokinjoe54
Champion Author Ohio

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Message Posted: Nov 28, 2012 1:43:35 PM

Old news.
dougtaylor1
Champion Author Phoenix

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Message Posted: Nov 28, 2012 1:42:34 PM

Just like eating chinese food..... doesn't last long.
gaspumpin
Champion Author Indiana

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Message Posted: Nov 28, 2012 1:42:28 PM

They need higher prices.
19sheldon43
Champion Author Los Angeles

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Message Posted: Nov 28, 2012 1:36:28 PM

As they say, 2hours after you get oil you demand more
jamofsocal
Champion Author Los Angeles

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Message Posted: Nov 28, 2012 1:36:08 PM

Has anyone asked what the oil is used for? It can't just be for cars.
pecos
Champion Author Columbus

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Message Posted: Nov 28, 2012 1:30:57 PM

Thats because there population continues to grow.
barbs24
Champion Author Virginia Beach

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Message Posted: Nov 28, 2012 1:27:45 PM

I can still get it for 3.10 here
rjojo40
Champion Author Las Vegas

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Message Posted: Nov 28, 2012 1:25:43 PM

charge them higher gas rates at the pump, maybe they will have gas shortages and long lines.
johton
Champion Author Seattle

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Message Posted: Nov 28, 2012 1:24:25 PM

No doubt that there demand will continue to grow.
bobsalwaysmt
Champion Author Long Island

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Message Posted: Nov 28, 2012 1:24:19 PM

I guess they're expecting a big Christmas Season.
BigKart
Champion Author Indianapolis

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Message Posted: Nov 28, 2012 1:22:35 PM

That's a good enough reason for price increases... let's go! jack 'em back up.
LuckyD43
Champion Author Long Island

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Message Posted: Nov 28, 2012 1:20:38 PM

I find it very hard to believe that in a country as large as China, there is no oil to be found anywhere. It makes you wonder if they're even l;ooking.
satrn38mpg
Champion Author Raleigh

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Message Posted: Nov 28, 2012 1:18:14 PM

another very old story >
THX138
Champion Author San Francisco

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Message Posted: Nov 28, 2012 1:18:09 PM

OLD "news"...it's the end of November now
bbthegun
Champion Author San Diego

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Message Posted: Nov 28, 2012 1:15:35 PM

We need to keep 'upp-ing' our output to keep the price reasonable.
ItisAJeepThing
Champion Author Tucson

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Message Posted: Nov 28, 2012 1:15:14 PM

We need to push the use of CNG as our primary alternative to all oil based fuels.
jellybelly72
All-Star Author San Bernardino

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Message Posted: Nov 28, 2012 1:15:01 PM

Interesting
Mikeyl
Champion Author Cleveland

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Message Posted: Nov 28, 2012 1:14:22 PM

Isn't everyone's "thirst" for oil not being quenched?
ItisAJeepThing
Champion Author Tucson

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Message Posted: Nov 28, 2012 1:12:35 PM

OK!!!

Average price here is $3.149 and falling.
Cheapest = $3.079
Highest =$3.299

GOOD NEWS for us anyway!
hallows
Champion Author St. Louis

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Message Posted: Nov 28, 2012 1:07:56 PM

Old news!
Stevedog
Champion Author Michigan

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Message Posted: Nov 28, 2012 1:04:33 PM

that's why prices are high
pulpwood
Champion Author Mississippi

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Message Posted: Nov 28, 2012 1:02:03 PM

America is the #1 Exporter of refined fuel in the world.
IMLURCH
Champion Author Minnesota

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Message Posted: Nov 28, 2012 1:01:05 PM

old story
Meridethkun
Sophomore Author Ontario

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Message Posted: Nov 28, 2012 1:00:49 PM

Not surprising, really.
QuagmireLA
Champion Author Louisiana

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Message Posted: Nov 28, 2012 12:59:38 PM

Personaly don't care what our little yellow brothers do, long as they do it there.
geoutpb
Champion Author Midland Odessa

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Message Posted: Nov 28, 2012 12:58:41 PM

China will keep prices high.
drobbbb
Champion Author Maryland

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Message Posted: Nov 28, 2012 12:54:57 PM

economy should be doing better
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