New data from the International Energy Agency, or IEA, shows that China has consumed one-third of the globe's total oil consumption this year.   

The IEA says China is currently the world's major engine of oil demand and has significant room for expansion in the industrial and transportation sectors.

 

This year, China's oil consumption reached some 5.4 million barrels per day, an increase from last year's less than five million barrels.

 

China is expected to replace Japan to become the world's second largest consumer of oil after the US next year.

 

(CRI November 16, 2003)