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Finance· Commodities

Sinopec Sees China Oil Demand Falling 8.9% in 2026

Sinopec’s research arm projects China’s oil demand will fall 8.9% in 2026 from a year earlier, driven by higher oil prices and faster electric-vehicle adoption. The company estimates a roughly 600,000 barrels-per-day drop in average oil demand this year versus last, with gasoline and diesel consumption set to decline sharply while jet fuel edges up.

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