China’s 2011 oil demand to grow 5%

China’s seemingly insatiable appetite for oil is expected to continue growing next year, albeit at a slower rate of 4.4-5.5%. Average oil demand in 2011 is seen at between 9.3 and 9.5 million barrels per day (bpd), after expanding at a blistering pace of more than 11% this year, according to forecasts by analysts. “China’s oil demand next year will represent a third of total global oil demand growth,” Zhang Luitong, an analyst at FACTS Global Energy, said. (December 30, 2010)