The forecast for petroleum consumption in China's wholesale, retail trades, hotels, and catering services shows a modest, yet consistent increase from 2024 to 2028. Starting from 638.27 ten thousand metric tons in 2024, the consumption is expected to grow annually, reaching 667.63 ten thousand metric tons by 2028. The year-on-year growth rate reflects a stable increase, largely attributed to sustained economic activities and development in service sectors. Assuming 2023 values as a reference, this trend indicates continued demand and reliance on petroleum products in these industries.
Future trends to watch for include fluctuations in global oil prices, shifts towards sustainable energy, and China's policies on energy efficiency and sustainability. These factors could influence petroleum consumption patterns significantly in the coming years.
