Along with the speedy development of the economic growth in China, the shortage of oil and gas becomes more and more serious. Based on summarizing some related research results, the prediction of China’s oil demand and supply in the year 2010 and the year 2020 has been given in the paper. The oil supply and demand situation is discussed on three different levels. Accordingly, suggestions about the oil supply safety and the national economy safety strategies have been given. Along with the speedy development of the economic growth in China, the shortage of oil and gas becomes more and more serious. Based on summarizing some related research results, the prediction of China’s oil demand and supply in the year 2010 and the year 2020 has been given in the paper. The oil supply and demand situation is discussed on three different levels.