Sinopec Predicts Peak in Chinese Oil Demand

Sinopec has joined CNPC in predicting peak oil demand in China, which it sees happening in 2027. The peak will occur at a daily demand level of some 16 million barrels or a total of 800 million metric tons, the Chinese state oil major said, as quoted by Reuters. The publication noted this was a more specific prediction about peak oil demand by Sinopec from one it announced last year. That prediction saw Chinese oil demand peaking at around 800 million metric tons sometime between 2026 and 2030. China’s oil demand this year is seen reaching…