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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: MythMan who wrote (25633)	4/13/2000 2:47:00 PM
From: John Pitera	Respond to of 42523

China Oil Imports Surge as Demand Rises insidechina.com LONDON, Apr 11, 2000 -- (Reuters) China's oil demand is outpacing all expectations, with consumption this year set to grow 200,000 barrels per day (bpd) to an average 4.64 million bpd, the International Energy Agency (IEA) said on Tuesday. Oil imports are climbing along with demand, with January levels surging to 1.33 million bpd - the second highest monthly volume after the 1.37 million bpd reported in December 1997, the West's energy watchdog said in its monthly Oil Market Report. Rising crude oil imports and a decrease in product exports boosted the January net import figure, which is more than double the January 1999 level of 529,000 bpd. The IEA previously said it believed China's second half 1999 oil demand growth of 11 percent was unsustainable due to high prices and industrial restructuring in advance of Beijing's entry into the World Trade Organization. "But in clear defiance of this logic the pace of apparent oil demand growth (based on the difference between production and imports) doubled in January, to an astonishing 22 percent," the IEA said.