China March oil consumption up 900k barrels/day from 1 year ago.

[touchring]

900k barrels/day, i suppose is half of Libya's production. And this is only China. Is world production rising by 900k every year?

I know the US can print dollars, which China uses to buy oil, but can the US print oll when demand exceeds supply?



http://af.reuters.com/article/energy...7FL1PR20110421

TABLE-China's oil demand up 10.9 pct in March, slows from Feb

Thu Apr 21, 2011 10:07am GMT

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Beijing, April 21 (Reuters) - China's apparent oil demand rose 10.9 percent in March from a
year earlier but fell 4.0 percent from February as refiners produced less fuel and net imports
fell, Reuters calculations from official data showed.
The following table shows implied oil demand for March, net imports and
output. All volumes are shown in barrels per day.
Implied Percent change on: 12-month
demand previous year moving
(Net imports + output) month ago average
Crude ("Crude supplied") 9,162,450 -1.8 3.2 8,990,501
Gasoline 1,683,118 -6.1 8.3 1,688,526
Naphtha 642,156 -7.8 11.9 672,328
Kerosene 302,411 -29.6 10.9 390,356
Diesel 3,288,831 -7.8 9.9 3,286,604
Fuel oil 720,704 -0.4 7.7 637,567
Lubricating oil 250,417 22.9 5.4 212,206
LPG 699,783 -6.3 -15.8 748,166
OVERALL OIL DEMAND 9,146,846 -4.0 10.9 8,944,453

[BlackVoid]

Re: China March oil consumption up 900k barrels/day from 1 year ago.

China coal and oil production is still rising. I think, as long as this trend is intact China is not in danger of economic collapse. Once these trends reverse, there will be hell to pay.

[touchring]

Re: China March oil consumption up 900k barrels/day from 1 year ago.

China coal and oil production is still rising. I think, as long as this trend is intact China is not in danger of economic collapse. Once these trends reverse, there will be hell to pay.

Yes, but is oil production rising quick enough? I read the Saudis are already peaked oil.

Chinese live in cities, if need to, people can ride electric bike or take bus. It wouldn't lead to an economic crash in China at least.