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China's peak oil demand looms
China guzzled roughly 16.5 million b/d of the world's oil supply in 2023, all liquids included. As the world's second-largest oil consumer, accounting for about 16% of global demand, a peak or plateau in its refined oil product demand is crucial to the oil market. The timing of the peak and the pace of oil demand decline from there on will affect global oil balances and, consequently, oil prices. "With a total oil demand tripling that of India's, the world's third-largest oil consuming nation, China is the only major developing country that is likely to see demand of gasoline and gasoil/diesel to reach a plateau at ... (full story)
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- Posted: Oct 14, 2024 12:36pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 196
