China Oil Demand to Shrink This Year, Sinopec Research Arm Says

🇨🇳 Bloomberg (CN) —

AI Summary

Sinopec's research arm forecasts that China's oil demand will decline by 600,000 barrels per day in 2026. The drop is attributed to impacts from the US-Iran war and the increasing adoption of electric vehicles.

China’s oil demand is expected to fall by 600,000 barrels a day in 2026 on the impact of the US-Iran war and spread of electric vehicles, according to the research arm of Sinopec Group, the top state-owned refiner.

Conflict Markets Commodities Energy China oil demand Sinopec US-Iran war electric vehicles energy market

Read original source →