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%