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RSS feed source: US Energy Information Administration

In-brief analysis

November 20, 2024

Data source: China National Bureau of Statistics, China General Administration of Customs, and Bloomberg L.P.
Note: We define apparent demand as refinery production plus imports minus exports.

Gasoline consumption in China has begun to fall in recent months amid increased sales of electric vehicles, slow economic growth, and population decline.

We estimate gasoline consumption in China averaged 3.2 million barrels per day (b/d) in August 2024, 14% less than in August 2023. The trend continued in September and October, which were down from the same months in 2023. From January through July of this year, more gasoline was consumed in China than the year before.

These trends led us to reduce our forecast growth in consumption of petroleum and liquid fuels in China in 2024 and 2025 in our Short-Term

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