China's Oil Demand Declines Structurally, Unlikely to Fully Recover in H2 2026

Vortexa · Jul 06, 2026 00:00

China's crude oil imports have declined, and its overall oil demand is projected to remain 1-1.5 million bpd below the 2025 average in the second half of 2026. This is attributed to a structural shift in motor fuels demand and the rapid growth of alternative energy supplies within the country.