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%
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.
they mandated EV cars, they didn’t rely on fashion and consumer choice.