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China's oil demand likely to decelerate

China's oil demand growth is expected to slow amid the country's economic restructuring and increasingly stringent environmental policy, according to Oil 2019, the International Energy Agency's annual outlook for global oil markets released in Beijing on Tuesday. This is against the backdrop that world oil demand growth is expected to remain solid with a slowing pace of growth. The demand growth is underpinned by China and India and by the growing importance of petrochemicals as the industry invests to meet rising consumer demand, according to the outlook.

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