China's oil demand increase 'astonishing', says IEA

[NickB79]

http://news.bbc.co.uk/2/hi/business/8563985.stm

"China's demand for oil jumped by an "astonishing" 28% in January compared with the same month a year earlier, the International Energy Agency (IEA) says.
The body added that demand for oil in 2010 would be underpinned by rising demand from emerging markets, with half of all growth coming from Asia.
But the IEA predicted demand in developed countries would fall by 0.3%.
The IEA has increased its global oil demand forecast for 2010 by 1.8% to 86.6 million barrels a day."

No wonder Kuwait is predicting Peak Oil by 2014 (and that prediction is overly optimistic, IMO).