China used about 9 million b/d of oil inAugust, according to preliminary esti-mates based on data released over theweekend. While that is roughly 7% higheryear-on-year, the figure is almost 2% be-low July’s oil demand and the lowestmonthly average since September 2010.These early estimates show demandcontinuing to grow more slowly than lastyear’s breakneck pace. Chinese demandlast year averaged about 8.8 million b/d,12% higher year-on-year. Preliminary datafor this year indicate that demand fromJanuary to August grew 8% to an averageof 9.3 million b/d.
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