China Oil Demand Expected to Shrink in 2026
· Business · Bloomberg, Reuters
China's oil demand is projected to decline by 600,000 barrels per day in 2026, according to the research arm of Sinopec Group. This forecast is driven by the ongoing conflict between the US and Iran alongside the rapid adoption of electric vehicles across the country. The shift reflects a broader transition in China's energy consumption patterns as the state prioritises alternative transport technologies.
Why it matters
A drop in Chinese oil demand could significantly lower global crude prices, impacting major exporters and altering energy market dynamics for importers like India.
Read the original report — Bloomberg
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