Related Articles
Forward article link
Share PDF with colleagues

SUV boom bolsters Chinese oil demand

Despite a slowing economy, some bullish forecasters predict China’s oil demand will be stronger for longer as transportation, rather than industrialisation, spurs growth

Analysts at Bernstein Research remain bullish on China’s oil demand growth, forecasting 11.3 million barrels per day (b/d) by 2015, which excludes the filling of strategic petroleum reserves and is 500,000 b/d above the current consensus. China consumed 9.6m b/d in 2012. They say demand will be driven by the population’s rising taste for gas-guzzling sports utility vehicles (SUVs), which, despite Beijing’s aggressive fuel efficiency targets, looks set to remain the fastest growing sub-segment of China’s ballooning vehicle market. The number of vehicles on China’s roads is expected to double to more than 220m by 2020. In an attempt to ensure it

Also in this section
LNG in Europe: The heat is on
22 June 2018
Higher power demand due to hot weather helped pushed up European LNG demand in 2017. But the sector is far from buoyant
New markets for Canada's oil remain elusive
14 June 2018
A war of words, along with legal challenges and counter-challenges, could see plans for Canada's Trans Mountain export pipeline scrapped
US powerhouse in the making
14 June 2018
The LNG building boom is just getting underway. When it's done, the US will be the largest exporter in the world