Browse Forecasts/China's annual oil consumption will decline by at least 10% from 2026 levels by 2036, driven by EV adoption and renewables
China's annual oil consumption will decline by at least 10% from 2026 levels by 2036, driven by EV adoption and renewables
EnvironmentHighActiveDecade (1-10y)
74%
Description:
China's sustained clean energy investments, aggressive electric vehicle deployment, and policy commitments under successive five-year plans are structurally reducing oil dependence in the transport sector. However, growing petrochemical, aviation, and freight demand may partially offset road-fuel declines, making a 10% absolute reduction ambitious over a decade.
Synthesis:
The US-Iran conflict dominates today's outlook: Strait of Hormuz disruption and attacks on Kharg Island are driving oil prices toward $120, while US force reinforcements surge toward the Gulf and Lebanon's displacement crisis deepens toward 1.5 million — a regional conflagration with cascading global economic consequences.