In 2023, diesel oil consumption in the extraction of petroleum and natural gas in China stood at 34.0 ten thousand metric tons. From 2024 to 2028, forecasts show a gradual decline in consumption, with values decreasing from 33.42 to 30.95 ten thousand metric tons. This represents a year-on-year decrease of approximately 2.5% as an average over these five years.
The Compound Annual Growth Rate (CAGR) indicates an average annual decline of around 2.3% over this period. These trends suggest efforts towards increased efficiency and possibly a shift to alternative energy sources in extraction processes.
Future trends to watch for include:
- Technological advancements leading to greater energy efficiency.
- Government regulations driving a shift towards cleaner energy sources.
- Development and adoption of renewable energy in extracting industries.
