* U.S. oil growth outpaces China for first time since 1999
* Shale boom boosts U.S. production again - BP statistical
* BP raises oil reserves, sharply revising upwards U.S.
(Updates figures for oil, gas throughout, adds MOSCOW dateline)
By Ron Bousso and Katya Golubkova
LONDON/MOSCOW, June 16 Oil demand in the United
States grew at the fastest pace in the world in 2013,
outstripping China for the first time since 1999 as the globe's
top economy reaped the benefits of a shale boom, oil company BP
said on Monday.
In its annual review of energy statistics unveiled in
Moscow, BP also raised its global oil reserves estimate by 1.1
percent after revising U.S. reserves upwards by more than a
Global natural gas reserves were cut for a second year as
lower provisions for Russia and Qatar offset a significant
uptick in U.S. estimates.
BP also said the United States recorded its largest-ever
annual rise in oil production for a second year in a row with a
13.5 percent increase to above 10 million barrels per day (bpd).
The annual review, first published in 1951 and considered an
industry benchmark, showed U.S. oil consumption in 2013 grew by
400,000 bpd to 18.9 million bpd, the sharpest gain in the world,
followed by China's rise of 390,000 bpd to 10.8 million bpd.
The consumption growth was led by an expansion of the U.S.
industrial sector as the world's top economy emerged from the
2008 financial crisis, BP Chief Economist Christof Ruhl said.
At the same time, a Chinese slowdown was driven mainly by
lower consumption of diesel and gasoil, which traditionally
reflect the rate of economic growth.
"It is easy to understand the U.S. - If you have a lot of
cheap domestic oil that feeds into the industry, it will show up
eventually in GDP growth numbers. It's not that easy to
reconcile the slowdown in Chinese energy numbers," Ruhl said.
China's economic growth hit a 14-year low in 2013, a decline
that accelerated in the first part of this year as Beijing leads
a wide drive to reform the country's economy.
Overall, China's energy consumption growth slowed to around
4.7 percent in 2013 from a 10-year average of 8.4 percent
despite the fact that Beijing officially reported a 7.7 percent
rise in gross domestic product last year, Ruhl said.
"There is a lot of tension between the official growth
numbers for China and the official energy consumption numbers
for China," he said.
Global oil production - up 560,000 bpd, or 0.6 percent -
failed to keep pace with growth in oil consumption. Output
disruptions from Libya, Nigeria and Iraq due to political strife
were almost entirely offset by growth of 1.1 million bpd in U.S.
output, BP said.
"The huge investments seen in the U.S. have been encouraged
and enabled by a favourable policy regime. And this has resulted
in the U.S. delivering the world's largest increase in oil
production last year. Indeed, the U.S. increase ... was one of
the biggest annual oil production increases the world has ever
seen," Ruhl said.
This balance also explains oil price stability over the past
three years, with the lowest volatility since the early 1970s,
BP raised its estimate of global proved oil reserves by 1.1
percent to 1,687.9 billion barrels at the end of 2013, enough to
meet 53.3 years of current global production.
U.S. reserves estimates were increased by 26 percent to 44.2
billion barrels, and Russia's by 6.7 percent to 93 billion
The company cut its estimate of global reserves of natural
gas for a second year in a row to 185.7 trillion cubic metres
(tcm), enough to meet 54.8 years of global production.
The decline by less than 1 percent was mostly due to Russia,
where reserves estimates were reduced by 4.9 percent to 31.3
tcm, the BP data showed.
(Editing by Dale Hudson)