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http://www.bloomberg.com/apps/news?pid=10001099&sid=ac6DYHg.rn_I&refer=energy July 13 (Bloomberg) -- The International Energy Agency, an adviser to 26 industrialized nations, forecast China's oil demand growth will rebound in 2006 by 7.2 percent after slowing this year as high prices curbed demand.
China's annual oil demand growth may slow in 2005 to 5.5 percent, the IEA said. Consumption may rise by 490,000 barrels a day next year to 7.3 million barrels a day, the Paris-based agency said, making its first prediction for 2006 oil use in its monthly Oil Market Report.
``This projection is based on continued strong economic growth, a resolution to the product pricing situation, and a rebound from relatively low growth in the second quarter of 2005,'' the agency said it its July report today. <snip> The IEA predicted growth in Chinese demand this year will be 360,000 barrels a day, which is 100,000 barrels a day less than it forecast one month ago. The country's oil use in 2005 is expected to average 6.8 million barrels a day.
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