China's Oil Demand Forecast to Decline 600,000 Barrels Daily in 2026, Sinopec Research Says
Source Summary
Sinopec Group's research arm projects China's oil demand will decline by 600,000 barrels per day in 2026. The forecast attributes the decline to the impact of the US-Iran war and the continued spread of electric vehicles.
Why it matters
A significant decline in Chinese oil demand would affect global crude prices and the strategic positioning of major oil producers and refiners worldwide.
