The International Energy Agency (IEA) said on Thursday that China’s demand for road and air transport fuel passed its peak, stating on Thursday that the country’s gasoline, gas and jet fuel consumption in 2024 in 2024. Fall came.
Last year, a joint consumption of three fuel in China was 8.1 million barrels (BPD) per day, which was 200,000 BPD lower compared to 2021 and above only 2019 levels, IEA said in a monthly report.
“It strongly suggests that the use of fuel in the country has already reached a plateau and even passes its peak,” it said.
After the increase in demand for major global oil of decades, China’s contribution is increasing as it is facing economic challenges as well as for electric vehicles (EVS).
According to the Paris-based IEA, the decline in China’s fuel demand is likely to intensify in the moderate period, which will be sufficient to generate a plateau in the demand for total China oil in this decade.
“This remarkable recession in consumption growth has been achieved by combining structural changes in China’s economy and rapid deployment of alternative transport technologies,” the IEA said.
The demand for fuel in a recession in China’s construction sector and weak consumer expenses in the country has decreased, said that upliftment of EVS was added.
The new EVs are currently responsible for half of the car sales and reduce about 250,000-300,000 BPD in 2024, while the use of compressed and liquid natural gas in road goods displaced around 150,000 BPD Has gone, said this.
