Close Menu
  • Home
  • Economic News
  • Stock Market
  • Real Estate
  • Crypto
  • Investment
  • Personal Finance
  • Retirement
  • Banking

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

How to make $100,000 or more and pay no income taxes

June 30, 2025

A Translation Guide To Progressive Slavespeak

June 30, 2025

Homebuyers still have down payment misconceptions

June 30, 2025
Facebook X (Twitter) Instagram
  • Contact Us
  • Privacy Policy
  • Terms Of Service
Monday, June 30
Doorpickers
Facebook X (Twitter) Instagram
  • Home
  • Economic News
  • Stock Market
  • Real Estate
  • Crypto
  • Investment
  • Personal Finance
  • Retirement
  • Banking
Doorpickers
Home»Economic News»China’s Oil Demand Could Peak In 2025
Economic News

China’s Oil Demand Could Peak In 2025

December 10, 2024No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

By Tsvetana Paraskova of OilPrice.com

China, the world’s largest importer of crude oil, may see its oil demand peak as early as next year. This shift is driven by the increasing adoption of electric vehicles and LNG trucks, according to a report by the state-owned China National Petroleum Corporation (CNPC).

Last year, CNPC predicted that China’s oil demand would peak by 2030. However, with the rapid growth of EVs and LNG-fueled trucks displacing traditional gasoline and diesel vehicles, the peak in oil demand could occur as soon as 2025, five years earlier than previously expected.

Industry executives attribute the slowdown in China’s oil demand growth to a combination of factors, including weaker economic performance and the transition to cleaner transport options. The shift towards EVs and LNG trucks is projected to permanently reduce road fuel demand in the country.

Vitol Group’s CEO Russell Hardy believes that China’s gasoline demand could peak this year or the next, as the country’s vehicle fleet gradually transitions to electric vehicles. This shift is part of a broader global trend towards cleaner energy sources, which has led Vitol to adjust its timeline for peak oil demand beyond 2030.

The rise of electric vehicles and the increased use of LNG in trucking have contributed to the slowdown in China’s oil demand growth. This trend, combined with economic factors, has challenged earlier forecasts of global oil demand for this year.

Loading…

Chinas demand Oil Peak
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

A Translation Guide To Progressive Slavespeak

June 30, 2025

Dry weather pushes up UK food inflation as harvests suffer

June 30, 2025

Canada Scraps Digital Service Tax On U.S. Tech Giants To Revive Trade Talks

June 30, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Posts

How to survive a stock market correction: Avoid doing these 5 things

March 17, 20250 Views

US To Deploy Missiles To Japanese Islands If China Attacks Taiwan

November 26, 20240 Views

Are some bonds safer than others?

October 7, 20240 Views
Stay In Touch
  • Facebook
  • YouTube
  • TikTok
  • WhatsApp
  • Twitter
  • Instagram
Latest
Investment

How to make $100,000 or more and pay no income taxes

June 30, 20250
Economic News

A Translation Guide To Progressive Slavespeak

June 30, 20250
Real Estate

Homebuyers still have down payment misconceptions

June 30, 20250
Facebook X (Twitter) Instagram Pinterest
  • Contact Us
  • Privacy Policy
  • Terms Of Service
© 2025 doorpickers.com - All rights reserved

Type above and press Enter to search. Press Esc to cancel.