In 2004, China passed Japan as the world's second-largest consumer of oil. It ate up an average of 6.63 million barrels of oil every day – about twice what it produces. Its oil imports doubled between 1999 and 2004.
China's demand for oil is expected to continue to increase by five to seven per cent a year. If that happens, China will surpass the United States as the world's largest consumer of oil by 2025.
Similarly, India's oil needs are expected to grow by four to seven per cent a year. In 2004, it consumed two million barrels a day.