Crude oil demand in China is set to peak in 2030, until then driven by robust petrochemicals demand, research from state oil giant CNPC has suggested. This is a revision on 2020 research from the same organization, CNPC Economics & Technology Research Institute, which at the time saw oil demand peaking at 730 million tons annually in 2025.
Now, the institute expects demand to peak at 780 million tons, Reuters has reported. Fuel demand, however, will peak years before crude oil demand, ETRI also said. It now sees gasoline, diesel, and kerosene…China Oil Demand Seen Peaking In 2030
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