China’s oil demand is projected to decline 8.9% in 2026, according to research from Sinopec, signaling a significant shift in the country’s energy outlook. The forecast reflects weaker consumption growth, increased use of electric vehicles, and continued expansion of renewable power. A sustained decline in oil demand could affect global prices, refinery operations, and producers that rely heavily on Chinese purchases. Analysts will watch whether economic activity, transport trends, and government policies accelerate or slow the expected change over time.
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