China’s Oil Demand May Peak Early on Rapid Transport Shift
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China’s oil demand may peak in 2025, five years earlier than expected, as the shift away from gasoline and diesel accelerates, according to a report from the nation’s largest energy producer.
Oil demand could reach 770 million tons in 2025, before gradually falling to 240 million tons by 2060, the report by China National Petroleum Corp. released on Tuesday shows. Earlier this year, an official with the group said overall demand was not expected to peak until 2030.