Oil demand forecast to rise

CHINA'S oil demand, which includes domestic crude processing and net imports of refined fuel products, will increase 4.8 percent to 514 million tons this year, the country's largest oil company said yesterday.

That's quicker than last year's growth. In December, refining throughput reached an all-time high amid a strengthening economy.

The country's annual crude throughput may rise 5.4 percent to 489 million tons in 2013 while refining capacity may increase 6.9 percent to 614 million tons a year, China National Petroleum Corp said. Combined demand for gasoline, diesel and kerosene will rise 5.8 percent to 293 million tons in 2013, it said.

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