China’s diesel oil production saw significant fluctuations from 2013 to 2023. The production peaked in 2017 at 18.32 million metric tons and then experienced a nearly consistent decline to 16.03 million metric tons by 2023. This decline included notable year-on-year decreases of 4.16% in 2019, 4.41% in 2020, and 0.94% in 2023. The average annual production decline over the past five years (CAGR) stands at -1.59%.
Future forecasts (2024-2028) predict a continued decline in diesel production, with an average annual reduction (CAGR) of -0.75% and a total decrease of 3.7% by 2028. Monitoring key factors will be crucial.
Future trends to watch for:
- Technological advancements in alternative fuels
- Stringent environmental regulations
- Shifts in domestic and global demand
- Economic conditions and policy changes in China
