China’s Oil Demand Will Jump by Another 650,000 Barrels Per Day

With its demand already increasing at record speeds, China gears up to begin filling its SPR, and the world looks at global oil supply problems looming in the near future; World Energy Monthly Review connects politics, the economy and hard energy facts.

“China’s SPR will pose significant new demands on a global market that is already strained,” exclaims the China editor, “and that demand will remain for the foreseeable future.” In order to reach their stated goal of 100 million barrels in reserve, “China’s SPR will be consuming more than a half million barrels of oil per day,” she says. This will add to the already significant geopolitical challenges China poses to the United States.