World’s Top Oil Trader Sees China’s Gasoline Demand Peaking by 2025
https://oilprice.com/Latest-Energy-News/World-News/Worlds-Top-Oil-Trader-Sees-Chinas-Gasoline-Demand-Peaking-by-2025.html
World’s Top Oil Trader Sees China’s Gasoline Demand Peaking by 2025
https://oilprice.com/Latest-Energy-News/World-News/Worlds-Top-Oil-Trader-Sees-Chinas-Gasoline-Demand-Peaking-by-2025.html
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“Vitol sees weakening Chinese gasoline demand growth and diesel demand due to the electrification of transport and greater use of LNG for fueling trucks.
Demand for petroleum products in China could peak before next year, the research unit of the China National Petroleum Corporation (CNPC) forecast earlier in 2024. The projection is based on expectations that the energy transition will continue gathering speed, eliminating oil product demand growth.
China Petroleum & Chemical Corporation, or Sinopec, expects oil demand in China to peak before 2027, according to the 2024 edition of the China Energy Outlook 2060 of Asia’s biggest refiner.”
Related articles:
https://www.ft.com/content/62d21b7a-0520-407c-a0f2-372432b4e3e3
https://www.iea.org/news/the-worlds-electric-car-fleet-continues-to-grow-strongly-with-2024-sales-set-to-reach-17-million
https://www.forbes.com/sites/ianpalmer/2024/07/23/an-unsettling-future-for-oil-but-a-tossup-for-gas-and-liquefied-natural-gas/
Combining this with the [graph of world electric car sales 2012-2024](https://www.iea.org/data-and-statistics/charts/electric-car-sales-2012-2024), and the [phase-out dates for ICE vehicle sales for most countries of before 2035](https://en.wikipedia.org/wiki/Phase-out_of_fossil_fuel_vehicles#Countries), makes it seem likely that worldwide gasoline and diesel sales will be in steep decline within 10 years.