According to provisional data gathered by Petroleum Planning and Analysis Cell, the oil ministry’s market monitor, consumption of motor fuel and other petroleum products stood a tad over 14 million tonnes in February, compared to 12.8 million tonnes a year ago. In January, consumption was estimated at 13.9 million tonnes.
Consumption in China is estimated to be growing by around 7%, which is being attributed to moderation in economic growth. At the same time, some experts reckon that the Chinese economy has become more energy efficient.
This post was written by Atlantic Admin