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http://www.eians.com/stories/2005/08/02/02out.shtml

Indo-Asian News Service


Beijing, Aug 2 (IANS) China's output of crude is likely to touch 180 million of tonnes in 2005, an increase of three percent over last year, the commerce ministry said Tuesday.

The country's demand for oil is expected to go up to 310 million tonnes, increasing by six percent, Xinhua reported.

The resulting 130 million tonnes shortage of oil, which is two percentage points higher than last year, would be met through imports, the ministry said.

The supply-demand gap was likely to keep oil prices high, it said.

The demand for refined oil will be over 230 million tonnes, up five percent over last year.

The demand for gasoline will exceed 54 million tonnes, increasing by four percent on a year-on-year basis, and that for diesel will stand at 110 million tonnes, up 6.5 percent, and for fuel oil, at 54 million tonnes, up five percent, the ministry said.


--Indo-Asian News Service