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LONDON, Oct 11: China’s oil demand will rise as expected this year and in 2008 because its economy will keep growing strongly despite global market turmoil due to the credit crunch, the International Energy Agency said on Thursday.
The IEA kept its overall forecasts for Chinese oil demand in 2007 and 2008 broadly unchanged, although it revised down its estimates for the third quarters in 2007 and 2008 by 100,000 barrels per day from the previous estimates due to falls in consumption of residual fuel oil in August.—Reuters
