Sinopec Forecasts 600,000 Bpd Drop in China's Oil Demand for 2026
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8 Articles
Sinopec's research arm predicted that China's oil demand would decline by 8.9% in 2026.
As the structure of energy consumption changes in China, the world's largest oil importer, a significant decline in oil demand is expected. According to a forecast by the Sinopec Institute for Economic and Development Research, the country's oil demand will decrease by 600,000 barrels per day in 2026. This decrease represents an 8.9% decline on an annual basis.
China's oil demand is expected to decrease by 600,000 barrels per day in 2026, or 8.9 percent annually. High oil prices and the rapid spread of electric vehicles are driving this decline, while a decrease in gasoline and diesel consumption is anticipated.
Economy - China's oil demand is expected to decrease by 600,000 barrels per day in 2026, or 8.9 percent compared to the previous year. If this prediction comes true, the country's oil consumption will have declined for the third consecutive year.
The research arm of Sinobek expects that demand for oil in China will drop by about 600,000 barrels a day in 2026, 8.9% compared to the previous year, so that the country will fall annually for the third year in a row, as oil prices rise as the reliance on electric vehicles accelerates. According to the report of Sinobek's Institute of Economics and Development, the post is expected to decline [...].
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