China’s Oil Demand to Peak Within 5 Years as India’s Continues to Climb ...Middle East

China’s decades-long reign as the world’s top oil demand driver is nearing its end, according to new research published by Moody’s Investors Service demonstrating that China’s crude demand is expected to peak within the next 3–5 years, while India will continue to hold the lead in global oil demand growth through at least 2030. Moody’s attributes China’s demand plateau to slowing economic growth, a shrinking population, a plateau in vehicle ownership, and a rapid shift toward EVs and energy diversification.…

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