In 2023, China's crude oil consumption for power generation was estimated at 6.55 ten thousand metric tons. Forecasts indicate a gradual decline, starting in 2024 at 6.47 and decreasing to 6.21 by 2028. This represents a consistent year-on-year decrease, with around a -1.25% average drop per annum from 2024 to 2028. The Compound Annual Growth Rate (CAGR) for this period suggests an overall decline. Observing this trend, the industry's preference seems to be shifting towards more sustainable energy sources.

Future trends to watch for include:

An increased shift towards renewable energy sources and how it affects crude oil usage.
Policy changes in China that may accelerate the decline in oil consumption for power generation.
Technological advancements in energy efficiency that could further reduce the reliance on crude oil.