According to Sinopec's research, what is the projected year-on-year change in China's oil demand for 2026, and what are the main drivers cited?

China's oil demand is expected to fall by 600,000 barrels a day in 2026, or 8.9% from the previous year, marking a third straight annual decline; the main drivers cited are high oil prices curbing consumption and accelerated electric vehicle adoption.

What are the forecasted changes in gasoline, diesel, and jet fuel demand in China for 2026, according to Sinopec's report?

Gasoline and diesel demand are expected to decline by 8.7% and 11.4% year-on-year to 149 million metric tons and 164 million tons respectively, while jet fuel demand is projected to rise 1.3% to 41.55 million tons in 2026.

China oil demand to fall 8.9% in 2026, Sinopec research says

Sep 8, 2026

Sinopec research forecasts China's oil demand to drop 8.9% in 2026 due to high prices and EV adoption. While refining capacity rises, gasoline and diesel consumption are expected to decline significantly.

reuters

2026-04-14

Sinopec buys Russian oil to replace Middle East supply after US waiver, sources say

2026-04-30

Sinopec reports lower chemicals sales, wider loss amid mixed output trends

2026-05-24

Vessels carrying Middle East oil, LNG exit Hormuz, head for Pakistan, China

2026-09-08

China oil demand to fall 8.9% in 2026, Sinopec research says

2026-09-09

China Oil Demand to Shrink This Year, Sinopec Research Arm Says

China oil demand to fall 8.9% in 2026, Sinopec research says

FAQ