Related News
China and US to spur global oil demand
Print Edition
Chinese and US demand for petrochemi cals will drive the global demand for oil next year, an expert said yesterday at the three-day Gulf Petrochemical and Chemical Association Forum.
Demand for oil in China and the US is expected to continue to grow next year, vice president of refining and chemicals at research firm Wood Mackenzie Alan Gelder said, 鈥渁nd globally, we see 3.5 percent growth for petrochemical products in 2018.鈥
The growth of oil-related manufacturing like the production of ethane and propane, which are basic materials for plastic, was the main driver for the demand of the 鈥渂lack gold.鈥
A dip in demand for oil as seen in the third quarter of 2017 鈥渨as a one-off mostly driven by Hurricane Harvey which hit demand for petrochemicals in the United States,鈥 Gelder added.
Harvey lasted from August 17 to September 3 in the southwest of the United States and was, with US$200 billion in damage, the costliest storm on record, topping Katrina from 2005.
Gelder also mentioned that the slight slowing down of China鈥檚 economic growth, saying it 鈥渄oes not mean China鈥檚 economy is declining, in fact it keeps growing.鈥
Asia鈥檚 oil demand growth remains strong, and more balanced between gasoline and diesel/gas oil, said the analyst. Earlier in October, the International Monetary Fund raised its forecast for China鈥檚 economic growth in 2017 and 2018, saying the Chinese economy would climb 6.8 percent this year and 6.5 percent next year, both 0.1 percentage point higher than its previous forecast in July.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
