The forecast for China's total support on petroleum for fossil fuel production shows a declining trend. Starting at $2.1 billion in 2024, it is expected to decrease steadily to $1.97 billion by 2028. This represents an average annual decline (CAGR) of approximately 1.67% over the forecasted period. Comparing year-on-year variations, there is a consistent drop of about 1.43% yearly.
Key future trends to watch for include:
- Government policy shifts towards renewable energy as China commits to carbon neutrality.
- Potential geopolitical impacts on petroleum supply and international energy markets.
