Trading Motor Network, December 8, 2023 -With the fully release of the depressed travel and consumer demand after the new crown epidemic, China’s demand for oil next year will slow down.
According to the median estimates of the 11 industry consultants and analysts surveyed by Bloomberg, the demand for this world’s largest crude oil importer will grow by 500,000 barrels per day, less than one-third of the growth in less than 2023. Petrochemical raw materials such as petroleum oil, liquefied petroleum gas, and aviation fuel account for most of the growth. In contrast, with the strong growth of electric vehicles -2022, EV accounts for 25% of the sales of new cars, and the increase in demand for transportation fuels such as gasoline in October this year will fall into stagnation.
Li Ran, an analyst at the Institute of Economics and Technology, China Petroleum Corporation of Petroleum Corporation, said: “At the end of this year to next year, the story of China Petroleum demand recovery during the post-epidemicq period is basically over. This year’s more than 10%of oil demand will never repeat it. Air fuel may It is the most powerful growth in petroleum products, but the economic downturn will put pressure on gasoline and diesel. “
Facts Global Energy Analyst Mia Geng said: “In 2024, it can be regarded as the starting point for China’s demand to slow down, and the demand for major oil such as gasoline and diesel is losing power.”
Tan Tingting, a research analyst of Wood Mackenzie, said: “In 2024, the demand for petroleum oil will increase by 13%, and the demand for liquefied petroleum and gas will increase by 8%. Production capacity. “