In 2023, fuel oil consumption in China's wholesale and retail trades, hotels, and catering services was 11.62 ten thousand metric tons. The forecast for 2024-2028 shows a very slight year-on-year increase, reaching 11.65 ten thousand metric tons by 2027-2028, indicating a minimal annual growth rate (CAGR) over the five years. This demonstrates a stable yet modest uptrend in fuel oil demand within these sectors.
Future trends to watch for include:
- The influence of sustainability policies potentially shifting energy sources.
- Technological advancements in energy efficiency reducing fuel oil dependency.
- Economic growth impacting the expansion and energy needs of the service sectors.
