Latest News
China drives global oil demand growth during pandemic
Last Updated: 2020-11-27 00:54 | Xinhua
 Save  Print   E-mail

China, with its rising refining industry, has driven global oil demand as the COVID-19 pandemic slashed it, and is emerging in the global refining industry shift, according to the International Energy Agency.

Bloomberg quoted the agency as saying that as the demand for plastics and fuels grows in China and the rest of Asia, where economies are quickly rebounding from the pandemic, the refining capacity in China has been expanded. China's refiners are becoming a growing force in international markets for gasoline and diesel among other fuels, it said.

The agency predicted that as early as next year, China will surpass the United States that has been at the top of the refining pack since the start of the oil age in the mid-19th century.

China's commercial oil stockpiling sector bought large storage in 2020 and delivered big profits for operators, traders and refiners worldwide. Enditem

(Editor:Fu Bo)

Share to 
Related Articles:
  • Sports
  • Soccer
  • Basketball
  • Tennis
  • Formula One
  • Athletics
  • Others
  • Entertainment
  • Celebrity
  • Movie & TV
  • Music
  • Theater & Arts
  • Fashion
  • Beauty Pageant
About | About the Economic Daily | Contact us
Copyright 2003-2020 China Economic Net. All right reserved
China drives global oil demand growth during pandemic
Source:Xinhua | 2020-11-27 00:54
Share to