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المشهد العربي
China's oil use forecasted to fall third year
Sinopec expects oil consumption in China to decrease by 600,000 barrels per day in 2026, representing a decline of up to 8.9% compared to the previous year. This is due to rising prices and the shift toward electric vehicles. Gasoline consumption is anticipated to drop by 8.7% to 149 million tons, and diesel by 11.4% to 164 million tons, while demand for jet fuel is expected to increase slightly by 1.3% to around 41.55 million tons. Meanwhile, total refining capacity is projected to reach 952 million tons annually during the year.
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