Outlook 2025: China faces up to slowing clean product demand
Structurally lower GDP growth and the need for a different economic model will contribute to a significant slowdown
In the decade before the Covid-19 pandemic, China was a critical source of clean product demand growth. Over the period between 2011 and 2019, combined Chinese consumption of gasoline, diesel and jet fuel averaged a yearly gain of 335,000b/d, outpacing that of India (+90,000b/d), the US (+110,000b/d) and Europe (+40,000b/d). Nonetheless, over the next decade Chinese clean product demand is set to slow dramatically, driven by structurally lower GDP growth rates and the need to shift away from an investment-led economic model. The rapid adoption of electric vehicles and LNG-fuelled trucks is also limiting the future outlook for Chinese demand, namely for gasoline and diesel. Early in the cycle
Also in this section
1 April 2025
There is method to the US president’s apparent madness, and those seeking to understand need look no further than their local bookshop
1 April 2025
Strong economic growth targets are encouraging for the country’s energy demand growth, even if meeting those goals might be a tall order
28 March 2025
The Central Asian country is positioning itself as a low-carbon leader, but antiquated infrastructure and a dependence on Russia are holding it back
28 March 2025
MCEDD 2025 took place in Madrid this week with record attendance and a wide-ranging programme, reflecting the deepwater sector’s renewed momentum, strategic focus and accelerating technological innovation.
