In 2023, China's per capita production of crude oil stood at 141.7 kilograms. From 2024 to 2028, per capita production is forecasted to steadily increase from 142.05 to 143.56 kilograms. This period sees a consistent year-on-year growth of approximately 0.3%. Over the last two years of this forecast, variations demonstrate a predictable rising trend, with a Compound Annual Growth Rate (CAGR) of around 0.28% from 2024 to 2028.
Future Trends to Watch:
- Technological advancements that could enhance extraction efficiency.
- Changes in global oil demand influencing production strategies.
- Policy shifts towards renewable energy affecting crude oil sectors.
- Economic factors impacting domestic and international outputs.
