EV boom: China hit oil consumption peak

Chinas Ölverbrauch sank 2024. Experten gehen davon aus, dass das Land den Höchststand beim Verbrauch erreicht hat. — China’s oil consumption fell in 2024, with experts assuming that the country’s consumption has peaked.

According to new figures from the country’s largest oil company, China’s consumption of refined oil has peaked. In 2024, 1.3 percent less was consumed, mainly due to the boom in EVs.

China appears to have reached a peak in oil consumption. While 399 million tons of refined oil were consumed in 2023, the figure was already 1.3 percent lower in 2024 (394 million tons), according to calculations by a research institute of the national oil company China National Petroleum Corporation (CNPC).

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