As per Bpaynews, China’s oil demand growth is expected to slow to near zero by 2027 as the country approaches peak consumption, according to Wood Mackenzie. Gasoline and diesel demand are already declining, with growth concentrated in aviation fuel and petrochemicals. Storage decisions in 2026 could significantly impact global oil balances, influencing Brent/WTI time spreads, refinery margins, and commodity currencies like CAD, NOK, and MXN. The consultancy notes that China’s crude throughput may rise slightly in 2026, but weak domestic demand will cap upside potential. Export quotas for refined products remain a key factor, with implications for Asian refining margins. Traders are advised to monitor Chinese crude import data, storage levels, and product export quotas to gauge market impacts.
China's Oil Demand Growth to Near Zero by 2027, Storage to Influence Prices
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