bloomberg.com

Sinopec Says China Oil Demand Likely Peaked Earlier Than Expected

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Sinopec Chairman Hou Qijun said China’s oil demand probably peaked last year, earlier than previously estimated, during an earnings briefing in Hong Kong. He linked the shift to clean energy development, electrification and low-carbon goals. Sinopec had earlier forecast demand would top out in 2027, while the government targets capped oil and coal consumption through 2030.

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