Saudi oil and Chinese motorists

TEN years ago China was a net oil exporter. Today it is the world’s third largest oil importer, behind the USA and Japan, and the second largest oil consumer. Ten years ago China produced around 250,000 cars per year. Last year the country churned out more than three million. Committed factory expansions and developments will take capacity to five million cars next year. By Peter Gibson

Saudi oil and Chinese motorists Saudi oil and Chinese motorists Saudi oil and Chinese motorists Saudi oil and Chinese motorists Saudi oil and Chinese motorists

China’s oil consumption this year will exceed 6 million barrels per day. Assuming a rate of growth similar to that experienced by other industrialising Asian economies, China will consume 12.

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