Forecast: Turnover of Wholesale of Petroleum and Related Products in China

An analysis of the turnover of wholesale petroleum and related products in China reveals significant historical fluctuations and a steady upward trend in recent years. In 2023, the turnover value stood at 2.28 hundred billion yuans. Historically, the market exhibited large year-on-year variations: from 27.07% decrease in 2013 to a noticeable rebound of 34.6% in 2015. More recently, the market showed increased stability, with a year-on-year growth of 3.14% in 2023 and an average annual growth rate (CAGR) of 5.05% over the last five years.

Forecasts predict a continued gradual increase in turnover, reaching 2.62 hundred billion yuans by 2028. The expected CAGR for the next five years is 2.18%, indicating a steadier but slower growth pace compared to the past years.

Future trends to watch for include:

• Global crude oil price fluctuations and their impact on China's wholesale market.
• China's domestic energy policies, particularly its shift towards renewable energy sources.
• Technological advancements in oil extraction and refining processes.
• Economic factors and their influence on industrial demand for petroleum products.