The International IEA stated that China's fuel use growth is plateauing, which is unprecedented for a country at its stage of economic development.
China's fuel use declined slightly to 8.1 million barrels a day in 2024, below 2021 levels and narrowly above 2019 use.
Alternative transport, such as electric vehicles and the use of natural gas in road freight, have displaced around 1.2 million barrels a day in demand growth since 2019.