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Sinopec forecasts 600,000 bpd drop in China's oil demand for 2026

Sinopec forecasts a 600,000 bpd drop in China's oil demand for 2026. Crude oil reaching a new all-time high by September 30 at 1.4% YES.

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Sinopec forecasts a 600,000 bpd drop in China's oil demand for 2026. Crude oil reaching a new all-time high by September 30 at 1.4% YES.

Sinopec expects China's oil demand to drop 8.9% in 2026 as high prices and EV adoption erode gasoline and diesel consumption.