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Chengyu: Chinese demand for diesel could peak by 2017
Fu Chengyu, Chairman of Chinese oil major China Petroleum & Chemical Corp. (Sinopec, ticker: SNP), said that he expects Chinese oil demand to peak much sooner than many Western companies and analysts are predicting. During a recent conference call, Chengyu said that he expects China’s demand for diesel, the fuel that most closely tracks economic growth, to peak in 2017, reports Bloomberg.

If correct, Chengyu’s predictions could spell trouble for oil companies counting on the continue...

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