China’s demand for oil to reach 603 million tons in 2020

China National Petroleum Corp. ‘s forecast for 2015 shows China’s demand for oil will increase by 19%, from 2010 to 535 million tons. The world’s second largest oil consuming country will need 603 million tons of oil in 2020 or a daily average of 12 million barrels a day. Demand for oil products will be 299 million tons in 2015 and 354 million tons in 2020, according to the company’s forecasts. (December 20, 2011)