11-10-2013, 10:04 AM
Auto market is a substantial contributor of the oil consumption. Overall car population still growing amid curbing.
It is an important macro factor for related sectors e.g. car manufacturing, tyre, car parts etc.
Faster growth, car sales help China overtake US as top oil importer
BEIJING — China has achieved another world-beating status its leaders do not want: Biggest oil importer.
The country overtook the United States last month as the world’s biggest net oil importer, driven by faster economic growth and strong auto sales, according to US government data released this week.
Chinese oil consumption outstripped production by 6.3 million barrels per day, which indicates the country had to import that much to fill the gap, the Energy Information Administration (EIA) said.
...
Its auto market, the biggest by number of vehicles sold, is also cooling but sales still rose by 11 per cent in August.
...
http://www.todayonline.com/chinaindia/ch...l-importer
It is an important macro factor for related sectors e.g. car manufacturing, tyre, car parts etc.
Faster growth, car sales help China overtake US as top oil importer
BEIJING — China has achieved another world-beating status its leaders do not want: Biggest oil importer.
The country overtook the United States last month as the world’s biggest net oil importer, driven by faster economic growth and strong auto sales, according to US government data released this week.
Chinese oil consumption outstripped production by 6.3 million barrels per day, which indicates the country had to import that much to fill the gap, the Energy Information Administration (EIA) said.
...
Its auto market, the biggest by number of vehicles sold, is also cooling but sales still rose by 11 per cent in August.
...
http://www.todayonline.com/chinaindia/ch...l-importer