China Prepares For Peak Oil Demand

Peak oil demand is coming to China; this message has been conveyed repeatedly by forecasters such as Wood Mackenzie and by China’s very own state oil majors. Given China’s current importance for oil markets and the importance of oil for its economy, the implications of peak demand could be substantial. And they will not necessarily be to the liking of transition fans. Earlier this year, Sinopec and PetroChina saw gasoline demand in China peaking in 2025, driven down by rising sales of electric vehicles. The IEA and Rystad…