China’s Oil Demand Is Set to Peak by 2030

Chinese crude oil demand will peak by 2030, a new report from the China National Petroleum Corp Economics and Technology Research Institute has predicted, as quoted by China Daily. According to the research division of the state energy major, the acceleration of a transition from oil to alternative energy sources will be the primary reason for the peak. The vice-president of the Economics and Technology Research Institute noted electric cars specifically as a big driver of the trend, saying the electrification of transport in China was progressing…