Chinese Oil Product Demand Could Peak by 2025

Demand for petroleum products in China could peak before next year, the research unit of the China National Petroleum Corporation has forecast. The projection is based on expectations that the energy transition will continue gathering speed, eliminating oil product demand growth. "With new productive forces — which refer to technological innovation, data, smart or intelligent technologies and the like — driving an overall increase in productivity and enhancing new dynamics for economic growth, overall demand for petroleum is on an upward…