Crude oil consumption rises

By: Paul Adkins | Comments: 0 | Category: Crude Oil

Following on the heels of the diesel fuel shortage and the increased crude processing to fix it, comes news that China’s crude oil consumption has already exceeded last year.

China’s crude oil demand hit 393 million tons to the end of November, 10.7% higher than this time last year. November itself came in at 13% above November 2009, with 38.1m tons.

Not surprisingly, China’s imports of diesel fuel increased by 50% y-o-y, as both major state-owned companies sought to relieve the domestic shortage.

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