Financial Post | Business

China’s oil demand will rise at a faster pace this year than previously forecast amid an economic recovery, according to Deutsche Bank AG.

Consumption by the world’s second-largest crude user will increase by 4.9 percent, or 468,000 barrels a day, Soozhana Choi, Deutsche Bank’s chief oil strategist in Singapore, said in a report e-mailed today. The bank predicted in December that growth would be 3.4 percent this year.

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