PetroChina Forecasts 4.9% Drop in China's 2026 Oil Consumption

PetroChina Planning and Engineering Institute / Investing.com · Jun 18, 2026 00:00

PetroChina's Planning and Engineering Institute forecasts China's oil consumption to fall by 4.9% in 2026 to 753 million tons, down from 792 million tons in 2025. This decline is attributed to a pivot towards new energy sources and sustained high oil prices.