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China's oil markets: China's petroleum markets have undergone profound changes. What's ahead?(Industry overview)
China's petroleum markets have undergone profound changes in the past decade as demand for a wide range of petroleum products has grown much more rapidly than many analysts expected and as growth in the country's domestic oil production has slowed sharply.
The increase in demand for oil has been greatest in the country's transportation and industrial sectors, causing the mix of products demanded in China to shift away from heavy fuel oil and toward lighter fuels--diesel, gasoline, and petrochemical feedstocks.
Demand in the transportation sector in particular has been pushed by high growth in incomes and demographic changes that are expanding the ...
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