China’s oil consumption to peak in 2025, foreign oil dependence to hit record high in next five years – industry think tank
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China’s oil consumption to peak in 2025, foreign oil dependence to hit record high in next five years – industry think tank
STOCKS

China’s oil consumption to peak in 2025, foreign oil dependence to hit record high in next five years – industry think tank

 

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China's annual crude oil consumption is likely to reach a peak of 750 million tonnes at the end of the 14th Five-Year Period (2021 - 2025), said Jiang Xuefeng, deputy director of the Economic and Technology Research Institute (ETRI), an energy think tank affiliated with China National Petroleum Corp (CNPC).

The growth of the country's oil consumption is projected to decelerate to an average annual rate of 2 per cent in the next five years, compared to an average growth rate of 4 per cent in the 13th Five Year Period (2016 - 2020), said Jiang . . .

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