Royal Dutch Shell Plc, the world’s second-biggest oil company by market value, thinks demand for oil could peak in as little as five years.
China’s net exports of gasoline last month rose to the highest rate in more than four years as refiners in the world’s second-largest oil consumer boosted production to a record. Overseas sales exceeded imports by 674,360 metric tons in October, according to figures e-mailed by the General Administration of Customs today. That’s highest since April 2010 and more than double from September, data compiled by Bloomberg show. It’s equivalent to 184,000 barrels a day. Gasoline is used in cars and planes, said the customs agency in Beijing.