BAKU, Azerbaijan, April 20. China’s oil demand
is expected to maintain a steady upward trajectory through 2027,
reaching an average of 17.33 mb/d.
Data obtained by Trend from the latest OPEC monthly market report
indicates a year-on-year increase of 0.20 mb/d for 2027, as
economic activity in the country remains stable. OPEC forecasts
that transportation activity will remain healthy, while the current
weakness observed in the construction sector is expected to
subside, providing a more balanced foundation for fuel
consumption.
A key driver for the 2027 outlook continues to be the
petrochemical sector. The sustained demand for petrochemical
feedstocks, combined with stable industrial output, is expected to
offset broader structural shifts in the energy landscape.
By the fourth quarter of 2027, demand is projected to peak at
17.53 mb/d, reflecting a consistent seasonal and industrial
strengthening of the Chinese market.
