Vitol says China is restarting oil demand growth

Vitol head of research:

• China will continue to play an important role in global oil demand.
• Global oil demand to peak only in the 2030s, later than expected due to lower pick-up in EVs and commitments to environmental targets
• LPG, naphtha, and jet fuel to drive global oil demand growth in 2025-2030
• China is restarting oil demand growth on rising domestic crude output and net petroleum imports
• China’s road transportation oil demand has peaked, with petrochemicals driving consumption growth
• China LNG truck sales fell sharply in September as the price gap with diesel narrowed

This article was written by Eamonn Sheridan at www.forexlive.com.