Crude oil consumption in China declines by 3%

China’s crude oil consumption declined by 2.9% to 190 million tons in the first half due to the global economic slowdown, according to figures from the China Petroleum and Chemical Industry Association (CPCIA). Oil consumption is expected to rebound in the second half, but the recovery is unlikely to be fast as there is no clear sign of a rebound in the country’s exports, according to Zhu Fang, deputy director of the CPCIA’s information and marketing department. During the first half, gasoline consumption rose 7.8% to 33.03 million tons, while diesel fuel consumption declined 7.9% to 63.51 million tons. (July 29, 2009)