China’s oil demand is expected to fall by 600,000 barrels a day, or 3.9%, in 2026, marking a third straight annual decline, while refining capacity is forecast to shrink up to 5.5% from 2026 levels by 2030, according to Sinopec’s research arm.
EDIT: original title stated 8.9% but was corrected to 3.9%
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They changed the headline to 3.8 percent, I read the article because 8.9 percent seemed so high, it was a typo.
still, pretty massive keeping in mind china’s population. this will increase too with how they’ve been investing in renewables.
i had the same thought – 10% or 4% is still staggering for a country with that many people.
