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Vitol says China is restarting oil demand development

Vitol head of research:

  • China will continue to play an important role in global oil demand.
  • Global oil demand to peak only in the 2030s, later than expected due to lower pick-up in EVs and commitments to environmental targets
  • LPG, naphtha, and jet fuel to drive global oil demand growth in 2025-2030
  • China is restarting oil demand growth on rising domestic crude output and net petroleum imports
  • China’s road transportation oil demand has peaked, with petrochemicals driving consumption growth
  • China LNG truck sales fell sharply in September as the price gap with diesel narrowed

This article was written by Eamonn Sheridan at www.forexlive.com.

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