Daily Energy Report
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Chart of the Day: China Oil Demand Remains Weak
Summary
Figure (1) shows trends in Chinese oil demand. Data for July is from the IEA. Data for August & September are EOA’s estimates based on economic activities and oil import data. One thing is clear: Oil demand in China has declined significantly. Contrary to various forecasts, including our forecast, demand in 2024 is lower than demand in 2023.