Crude oil demand in China is set to peak in 2030, until then driven by robust petrochemicals demand, research from state oil giant CNPC has suggested. This is a revision on 2020 research from the same organization, CNPC Economics & Technology Research Institute, which at the time saw oil demand peaking at 730 million tons annually in 2025. Now, the institute expects demand to peak at 780 million tons, Reuters has reported . Fuel demand, however, will peak years before crude oil demand, ETRI also said. It now sees gasoline, diesel, and kerosene fuel demand peaking in 2025 at some 390 million tons per year as the electrification of transport grows in the world’s largest market for electric vehicles. Coal consumption will also peak around 2030, the research organization also forecast, seeing the peak at around 3.6-4 billion tons. By 2050, coal generation capacity will only be used as […]