Singapore — China’s anticipated robust economic growth in 2021 will help to propel domestic oil demand into top gear, with analysts S&P Global Platts spoke to expecting a consumption growth of 3.5%-4.5% year on year, but imports of crude oil may not witness similar growth as the country grapples with bloated inventories. With financial institutions forecasting a GDP growth of 8%-9% in 2021, compared with 2% in 2020, the outlook for oil in the world’s biggest consumer has become brighter, bringing relief to the global energy market that depends on China’s insatiable appetite for volumes. The International Monetary Fund’s GDP growth projection for China is at 8.2%, while Nomura’s forecast is stands at 9%. S&P Global Platts Analytics expects a growth of 7%. China’s economic policymakers have pledged to continue macroeconomic policies and not make any “sudden turns”, according to a statement from the Central Economic Work Conference held […]