Bad omens for Chinese oil demand
Sino-US trade tensions could see crude consumption crumble despite recent buying behaviour
The US-China trade decoupling and its impact on the growth of the world’s second-largest economy have quickly become the main wildcard for Chinese crude oil demand this year—leapfrogging existing drivers such as electric cars and petrochemicals—as sky-high US tariffs seem certain to crimp China’s manufacturing and exports. The years-long trade war between the US and China reached new heights in April, as both sides escalated tariffs and counter-tariffs that now risk collapsing bilateral trade worth an estimated $582b last year. Beijing has stood firm in the spat, striking a publicly defiant tone that extended to forcefully denying US President Donald Trump’s claims that tariff negotiations b
Also in this section
15 May 2025
Financial problems, lack of exploration success and political dogma cause uncertainty across much of the region
14 May 2025
The invisible hand of the market has seen increasing transparency but much more needs to be done to build a better understanding
13 May 2025
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market
12 May 2025
With the gas industry’s staunchest advocates and opponents taking brutal blows, the sector looks like treading a path of insipid indifference
