Events such as the Winter Olympics near Beijing and Lunar New Year have impacted crude demand
Chinese crude demand growth to slow
China’s demand is set to increase again this year, but at a slower pace after hitting yet another record high in 2021
China’s energy demand is being buffeted by mounting economic headwinds and one-off short-term disruptions, including February’s Winter Olympics near Beijing. Oil demand in particular could decline quarter-on-quarter in Q1 2022 because of reduced refinery throughput in northeast China, owing to governmental desire for improved air quality during the games and March’s Winter Paralympics. Both events likely impacted short-term crude demand along with early February’s week-long Lunar New Year holiday, as businesses shut for the holiday. In addition to refining demand, other emissions-intense activities such as factory operations, power generation and general traffic movement were also asked to t
Also in this section
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
