In analyzing petroleum consumption in China from 2013 to 2023, we observe a moderate upward trend until 2019, followed by a slight decline in 2020 and a stabilization from 2021 onwards. Notably, the petroleum consumption in China stood at approximately 185,000 Tons of Standard Coal Equivalent in 2023. Significant year-on-year variations included a noticeable increase in 2015 and minor fluctuations afterward, resulting in a negative Compound Annual Growth Rate (CAGR) over the most recent five years at -0.43%.
Looking ahead, the forecasted data suggests that petroleum consumption will remain stable through 2028, maintaining the same level as in 2023. Trends to watch for include potential policy shifts towards renewable energy sources and how economic factors might influence petroleum demand in China over the next decade.
