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Chinese oil demand continues growth in October

GasBuddy Blog -- China's thirst for crude oil continues to increase, according to a recent analysis of Chinese government data, according to Platts, even as demand in developed countries continues to be weak.

According to the report, China's apparent oil demand rose close to 7% year over year in October, the latest month for which data is available. That puts Chinese demand at an average of 9.76 million barrels per day, nearly half of what demand is in the United States.

October demand was demand was slightly lower than the record 9.8 million b/d in September and the 9.77 million b/d seen in February this year, the Platts report said.

"We continued to see strong growth in apparent oil demand in October, particularly after...

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Submitted Nov 27, 2012 By: PD

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honda0105 Champion Author Tallahassee Posts:18,834 Points:1,638,195 Joined:Nov 2008	Message Posted: Nov 30, 2012 3:56:54 AM Ignore honda0105 Report Abuse nothing new here.
danmckdude Rookie Author Detroit Posts:47 Points:206,670 Joined:Aug 2012	Message Posted: Nov 29, 2012 8:47:56 AM Ignore danmckdude Report Abuse I would like to see prices drop because of China's increased demand.
mainenightowl All-Star Author Maine Posts:997 Points:333,435 Joined:May 2012	Message Posted: Nov 29, 2012 7:52:17 AM Ignore mainenightowl Report Abuse I agree that we need to become more self-sufficient and able to use our own resources that are produced right here in this country rather than rely on oil from the Mid-East. I agree with many posts here that most (if not all) of the Mid-East oil will end up going to China eventually. I just hope we don't end up in an oil war with China when this happens.
joeschmo12 Champion Author New York Posts:1,108 Points:326,500 Joined:Mar 2012	Message Posted: Nov 28, 2012 9:08:21 PM Ignore joeschmo12 Report Abuse china's going to eat up the world's oil
Wanda127 Champion Author Florida Posts:2,570 Points:941,325 Joined:May 2010	Message Posted: Nov 28, 2012 5:01:18 PM Ignore Wanda127 Report Abuse This is another reason we need for the U.S. to be self sufficient because China will be needing most of the mid-east oil.
spiderjay Champion Author Little Rock Posts:4,773 Points:1,283,935 Joined:Oct 2005	Message Posted: Nov 28, 2012 4:31:53 PM Ignore spiderjay Report Abuse yes i see that
boldrph Champion Author Topeka Posts:18,535 Points:3,479,340 Joined:Oct 2002	Message Posted: Nov 28, 2012 1:00:31 PM Ignore boldrph Report Abuse if china uses 1/2 what usa uses and has 4-5 times the population that means the average chinese person uses about 15% what the average american uses ... today. i wonder what it'll be like in 10 years?
NorthglennBill Champion Author Denver Posts:7,562 Points:1,499,645 Joined:Oct 2008	Message Posted: Nov 28, 2012 12:41:51 PM Ignore NorthglennBill Report Abuse Not long ago there were articles reporting that the Chinese oil demand was falling and that was one reason that the price of oil was falling. Hard to know what to believe.
72_Monte Champion Author Twin Cities Posts:7,912 Points:2,024,160 Joined:Aug 2005	Message Posted: Nov 28, 2012 12:06:46 PM Ignore 72_Monte Report Abuse And it will continue.
TC5504 Champion Author West Virginia Posts:1,080 Points:221,710 Joined:Sep 2012	Message Posted: Nov 28, 2012 12:05:16 PM Ignore TC5504 Report Abuse No big surprise.
HA4CNN Champion Author Toronto Posts:5,765 Points:1,571,190 Joined:Dec 2006	Message Posted: Nov 28, 2012 12:02:54 PM Ignore HA4CNN Report Abuse They will only cause world demand to go up and it will cost every one more.
midnightsdc Champion Author Ontario Posts:2,403 Points:1,506,445 Joined:Jan 2007	Message Posted: Nov 28, 2012 12:01:24 PM Ignore midnightsdc Report Abuse Gee....why don't we sell them a bunch of oil so we need to buy from the Arabs!
rodzilla123 Champion Author San Diego Posts:4,540 Points:1,062,045 Joined:Jul 2008	Message Posted: Nov 28, 2012 12:00:30 PM Ignore rodzilla123 Report Abuse Almost surprised, their under a sizable Recession along with Europe, Japan, and, Oh Yes... America!!
Isea11 Champion Author New York Posts:1,154 Points:413,905 Joined:Dec 2011	Message Posted: Nov 28, 2012 11:55:33 AM Ignore Isea11 Report Abuse Good for the Chinese.
No1ConMan Champion Author Memphis Posts:1,155 Points:242,640 Joined:Sep 2005	Message Posted: Nov 28, 2012 11:54:54 AM Ignore No1ConMan Report Abuse This should come as no surprise to anyone as they are doing more and more production that used to be done here and they are subsidizing that with government money. Plus they are increasing production/usage on their own as their demands increase and life styles improve.
73amx Champion Author Allentown Posts:1,312 Points:487,445 Joined:Sep 2011	Message Posted: Nov 28, 2012 11:53:35 AM Ignore 73amx Report Abuse your supplies are up. China needs oil. Does anyone see an opportunity here?
smoketown Champion Author Cincinnati Posts:6,373 Points:1,409,575 Joined:Feb 2008	Message Posted: Nov 28, 2012 11:52:55 AM Ignore smoketown Report Abuse Maybe BP can help them out.............
bluebird1 Champion Author Toronto Posts:15,874 Points:3,134,850 Joined:May 2004	Message Posted: Nov 28, 2012 11:51:00 AM Ignore bluebird1 Report Abuse Read before commenting ie. can't be old news since its data up to Oct. M/e & the 'same old' or same last 6 mos. is what the article really is stating - despite many developed countries waning oil use, China continues to go up!!!!
OnEmptyMO Champion Author St. Louis Posts:5,099 Points:1,515,655 Joined:Mar 2008	Message Posted: Nov 28, 2012 11:49:39 AM Ignore OnEmptyMO Report Abuse And we are suppose to believe what China is saying?
tonoplast All-Star Author Lexington Posts:890 Points:470,175 Joined:Apr 2011	Message Posted: Nov 28, 2012 11:48:44 AM Ignore tonoplast Report Abuse Same ol' same ol'.
sp364TN Veteran Author Memphis Posts:256 Points:264,985 Joined:Jun 2008	Message Posted: Nov 28, 2012 11:48:05 AM Ignore sp364TN Report Abuse nothing new
Suzzoom Champion Author Nevada Posts:2,503 Points:533,655 Joined:Jan 2011	Message Posted: Nov 28, 2012 11:46:50 AM Ignore Suzzoom Report Abuse India, too, but we don't see as much about that country because it's not perceived as much of an economic rival as China. But how many of you have called a tech support center that turns out to be located in Beautiful Downtown Bombay?
ace12012 Champion Author Phoenix Posts:1,805 Points:350,060 Joined:Apr 2012	Message Posted: Nov 28, 2012 11:44:37 AM Ignore ace12012 Report Abuse read it before.
eaglev Champion Author Oklahoma City Posts:4,001 Points:937,155 Joined:Jul 2005	Message Posted: Nov 28, 2012 11:44:26 AM Ignore eaglev Report Abuse This has been the same thing for the last 6 of 8 months
smokinjoe54 Champion Author Ohio Posts:4,832 Points:933,290 Joined:Feb 2010	Message Posted: Nov 28, 2012 11:43:35 AM Ignore smokinjoe54 Report Abuse Old news.
dougtaylor1 Champion Author Phoenix Posts:1,781 Points:457,150 Joined:Jun 2011	Message Posted: Nov 28, 2012 11:42:34 AM Ignore dougtaylor1 Report Abuse Just like eating chinese food..... doesn't last long.
gaspumpin Champion Author Indiana Posts:1,792 Points:415,820 Joined:Apr 2012	Message Posted: Nov 28, 2012 11:42:28 AM Ignore gaspumpin Report Abuse They need higher prices.
19sheldon43 Champion Author Los Angeles Posts:3,979 Points:843,010 Joined:Jul 2009	Message Posted: Nov 28, 2012 11:36:28 AM Ignore 19sheldon43 Report Abuse As they say, 2hours after you get oil you demand more
jamofsocal All-Star Author Los Angeles Posts:982 Points:251,215 Joined:Aug 2012	Message Posted: Nov 28, 2012 11:36:08 AM Ignore jamofsocal Report Abuse Has anyone asked what the oil is used for? It can't just be for cars.
pecos Champion Author Columbus Posts:7,804 Points:2,132,015 Joined:Jul 2005	Message Posted: Nov 28, 2012 11:30:57 AM Ignore pecos Report Abuse Thats because there population continues to grow.
barbs24 Champion Author Virginia Beach Posts:3,282 Points:2,068,455 Joined:Feb 2006	Message Posted: Nov 28, 2012 11:27:45 AM Ignore barbs24 Report Abuse I can still get it for 3.10 here
rjojo40 Champion Author Las Vegas Posts:7,594 Points:1,103,340 Joined:Feb 2004	Message Posted: Nov 28, 2012 11:25:43 AM Ignore rjojo40 Report Abuse charge them higher gas rates at the pump, maybe they will have gas shortages and long lines.
johton Champion Author Seattle Posts:1,355 Points:339,840 Joined:Jun 2012	Message Posted: Nov 28, 2012 11:24:25 AM Ignore johton Report Abuse No doubt that there demand will continue to grow.
bobsalwaysmt Champion Author Long Island Posts:4,709 Points:268,240 Joined:Oct 2007	Message Posted: Nov 28, 2012 11:24:19 AM Ignore bobsalwaysmt Report Abuse I guess they're expecting a big Christmas Season.
BigKart All-Star Author Indianapolis Posts:841 Points:249,205 Joined:Apr 2011	Message Posted: Nov 28, 2012 11:22:35 AM Ignore BigKart Report Abuse That's a good enough reason for price increases... let's go! jack 'em back up.
LuckyD43 Champion Author Long Island Posts:32,465 Points:2,195,770 Joined:Apr 2005	Message Posted: Nov 28, 2012 11:20:38 AM Ignore LuckyD43 Report Abuse I find it very hard to believe that in a country as large as China, there is no oil to be found anywhere. It makes you wonder if they're even l;ooking.
satrn38mpg Champion Author Raleigh Posts:5,207 Points:1,080,640 Joined:Sep 2009	Message Posted: Nov 28, 2012 11:18:14 AM Ignore satrn38mpg Report Abuse another very old story >
THX138 Champion Author San Francisco Posts:2,653 Points:1,038,890 Joined:Apr 2010	Message Posted: Nov 28, 2012 11:18:09 AM Ignore THX138 Report Abuse OLD "news"...it's the end of November now
bbthegun Champion Author San Diego Posts:6,033 Points:1,704,840 Joined:Sep 2006	Message Posted: Nov 28, 2012 11:15:35 AM Ignore bbthegun Report Abuse We need to keep 'upp-ing' our output to keep the price reasonable.
ItisAJeepThing Champion Author Tucson Posts:20,030 Points:2,179,280 Joined:Oct 2006	Message Posted: Nov 28, 2012 11:15:14 AM Ignore ItisAJeepThing Report Abuse We need to push the use of CNG as our primary alternative to all oil based fuels.
jellybelly72 Veteran Author San Bernardino Posts:476 Points:323,930 Joined:Jul 2011	Message Posted: Nov 28, 2012 11:15:01 AM Ignore jellybelly72 Report Abuse Interesting
Mikeyl Champion Author Cleveland Posts:5,302 Points:1,211,595 Joined:Aug 2004	Message Posted: Nov 28, 2012 11:14:22 AM Ignore Mikeyl Report Abuse Isn't everyone's "thirst" for oil not being quenched?
ItisAJeepThing Champion Author Tucson Posts:20,030 Points:2,179,280 Joined:Oct 2006	Message Posted: Nov 28, 2012 11:12:35 AM Ignore ItisAJeepThing Report Abuse OK!!! Average price here is $3.149 and falling. Cheapest = $3.079 Highest =$3.299 GOOD NEWS for us anyway!
hallows Champion Author St. Louis Posts:4,838 Points:2,832,320 Joined:Jun 2004	Message Posted: Nov 28, 2012 11:07:56 AM Ignore hallows Report Abuse Old news!
Stevedog Champion Author Michigan Posts:3,993 Points:1,973,675 Joined:Jul 2006	Message Posted: Nov 28, 2012 11:04:33 AM Ignore Stevedog Report Abuse that's why prices are high
pulpwood Champion Author Mississippi Posts:7,379 Points:1,860,855 Joined:Sep 2006	Message Posted: Nov 28, 2012 11:02:03 AM Ignore pulpwood Report Abuse America is the #1 Exporter of refined fuel in the world.
IMLURCH Champion Author Minnesota Posts:2,324 Points:1,130,880 Joined:Mar 2009	Message Posted: Nov 28, 2012 11:01:05 AM Ignore IMLURCH Report Abuse old story
Meridethkun Sophomore Author Ontario Posts:156 Points:17,430 Joined:Aug 2010	Message Posted: Nov 28, 2012 11:00:49 AM Ignore Meridethkun Report Abuse Not surprising, really.
QuagmireLA Champion Author Louisiana Posts:1,081 Points:161,230 Joined:Jun 2012	Message Posted: Nov 28, 2012 10:59:38 AM Ignore QuagmireLA Report Abuse Personaly don't care what our little yellow brothers do, long as they do it there.
geoutpb Champion Author Midland Odessa Posts:4,718 Points:1,085,135 Joined:Dec 2006	Message Posted: Nov 28, 2012 10:58:41 AM Ignore geoutpb Report Abuse China will keep prices high.