Market Chatter: PetroChina Sees China's Oil Consumption Falling in 2026

MT Newswires Live06-19 10:13

China's oil consumption is projected to decline 4.9% to 753 million tons in 2026, reversing a 3.6% increase a year earlier, Reuters reported Thursday, citing a report by PetroChina's (HKG:0857, SHA:601857) Planning and Engineering Institute.

The institute forecasts China's crude oil production to rise 0.5% to 217 million tons this year, while refined oil consumption is expected to fall 6.4% to 324 million tons, according to the report.

Overall oil demand is reportedly expected to peak and then decline to around 700 million tons by 2030, though jet fuel consumption is forecast to edge up 0.2%.

PetroChina did not immediately respond to MT Newswires' request for a copy of the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2644305100?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-06-19 10:13","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2644305100","market":"nz","top_or_hot":-1,"title":"Market Chatter: PetroChina Sees China's Oil Consumption Falling in 2026","media":"MT Newswires Live","content":"<html><body><p> China's oil consumption is projected to decline 4.9% to 753 million tons in 2026, reversing a 3.6% increase a year earlier, Reuters reported Thursday, citing a report by PetroChina's (HKG:0857, SHA:601857) Planning and Engineering Institute.</p><p>The institute forecasts China's crude oil production to rise 0.5% to 217 million tons this year, while refined oil consumption is expected to fall 6.4% to 324 million tons, according to the report.</p><p>Overall oil demand is reportedly expected to peak and then decline to around 700 million tons by 2030, though jet fuel consumption is forecast to edge up 0.2%.</p><p>PetroChina did not immediately respond to MT Newswires' request for a copy of the report.</p><p>(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Market Chatter: PetroChina Sees China's Oil Consumption Falling in 2026</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMarket Chatter: PetroChina Sees China's Oil Consumption Falling in 2026\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1092851196\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">MT Newswires Live </p>\n<p class=\"h-time\">2026-06-19 10:13</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p> China's oil consumption is projected to decline 4.9% to 753 million tons in 2026, reversing a 3.6% increase a year earlier, Reuters reported Thursday, citing a report by PetroChina's (HKG:0857, SHA:601857) Planning and Engineering Institute.</p><p>The institute forecasts China's crude oil production to rise 0.5% to 217 million tons this year, while refined oil consumption is expected to fall 6.4% to 324 million tons, according to the report.</p><p>Overall oil demand is reportedly expected to peak and then decline to around 700 million tons by 2030, though jet fuel consumption is forecast to edge up 0.2%.</p><p>PetroChina did not immediately respond to MT Newswires' request for a copy of the report.</p><p>(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BWET","symbol_name":"BREAKWAVE TANKER SHIPPING ETF","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2644305100","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2644305100","pubTimestamp":1781835203,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"China's oil consumption is projected to decline 4.9% to 753 million tons in 2026, reversing a 3.6% increase a year earlier, Reuters reported Thursday, citing a report by PetroChina's  Planning and Engineering Institute.The institute forecasts China's crude oil production to rise 0.5% to 217 million tons this year, while refined oil consumption is expected to fall 6.4% to 324 million tons, according to the report.Overall oil demand is reportedly expected to peak and then decline to around 700 million tons by 2030, though jet fuel consumption is forecast to edge up 0.2%.PetroChina did not immediately respond to MT Newswires' request for a copy of the report.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"601857":"中国石油","BWET":"BREAKWAVE TANKER SHIPPING ETF","OILU":"MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN","LU1785774172.SGD":"JPM TOTAL EMERGING MARKETS INCOME \"A\" (SGD) INC","USO":"美国原油ETF","DUG":"二倍做空石油与天然气ETF(ProShares)","BNO":"美国布伦特原油基金有限合伙企业","USE":"USCF Energy Commodity Strategy Absolute Return Fund","PXE":"Invesco Energy Exploration & Production ETF","USL":"United States 12 Month Oil Fund LP","USOI":"ETRACS Crude Oil Shares Covered Call ETN","IEO":"iShares Dow Jones U.S. Oil & Gas","LU1794554557.SGD":"Allianz All China Equity AT Acc H2-SGD","LU0359201885.HKD":"BGF CHINA \"A2\" (HKD) ACC","DBO":"原油ETF-PowerShares","ERX":"二倍做多能源ETF-Direxion","DBC":"商品指数ETF-PowerShares DB","IXC":"全球能源业ETF-iShares","LU2293587155.HKD":"ALLIANZ ORIENTAL INCOME \"AT\" (HKD) ACC","FTXN":"First Trust Nasdaq Oil & Gas ETF","GUSH":"Direxion Daily S&P Oil &Gas Exp. & Prod. Bull 2X Shares","DBE":"能源商品ETF-PowerShares","SG9999004220.SGD":"Nikko AM Shenton Asia Dividend Equity Fund  SGD","PXJ":"Invesco Oil & Gas Services ETF","OIH":"石油服务ETF","DRIP":"Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares","LU1251922891.USD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (USD) ACC","LU0862451753.SGD":"JPMorgan Funds - Emerging Markets Dividend A (mth) SGD","XES":"SPDR S&P Oil & Gas Equipment & Services ETF","LU1023057109.AUD":"BGF CHINA \"A2\" (AUDHDG) ACC","LU1808992512.USD":"AB ALL CHINA EQUITY PORTFOLIO \"A\" (USD) ACC","LU0326950275.SGD":"Schroder ISF China Opportunities A Acc SGD-H","UCO":"二倍做多彭博原油ETF","LU0181495838.USD":"施罗德新兴亚洲A Acc","SCO":"二倍做空彭博原油指数ETF","LU0405327148.USD":"ALLSPRING CHINA A FOCUS \"A\" (USD) ACC","XLE":"SPDR能源指数ETF","LU1497733557.USD":"EASTSPRING INV ASIAN LOW VOLATILITY EQUITY FUND \"A\" (USD) INC A","UGA":"United States Gasoline Fund LP","00857":"中国石油股份","LU2097828557.USD":"AZ EQUITY CHINA \"A\" (USD) ACC","WTIU":"MICROSECTORS ENERGY 3X LEVERAGED ETN","OILK":"ProShares K-1 Free Crude Oil ETF","DRLL":"Strive U.S. Energy ETF","DIG":"二倍做多美国油气指数","XOP":"油气开采指数ETF-SPDR S&P","LU0405327494.USD":"ALLSPRING CHINA A FOCUS \"I\" (USD) ACC","OILT":"Texas Oil Index ETF","LU2097828631.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC","VDE":"Vanguard Energy ETF"},"translate_title":"市场热议：中石油预计2026年中国石油消费量将下降","themeId":"f6f7c9f6a0174df79daf9f1dfd21f836","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"601857":0.9,"XLE":0.73,"OIH":0.73,"BWET":0.73,"DUG":0.73,"USOI":0.73,"IEO":0.73,"WTIU":0.73,"IXC":0.73,"PXE":0.73,"USO":0.73,"DRIP":0.73,"BNO":0.73,"USE":0.73,"XES":0.73,"OILU":0.73,"USL":0.73,"VDE":0.73,"SCO":0.6,"ERX":0.73,"DBO":0.73,"XOP":0.73,"FTXN":0.73,"GUSH":0.73,"00857":0.9,"OILT":0.73,"PXJ":0.73,"DBC":0.73,"DIG":0.73,"DBE":0.73,"OILK":0.73,"UCO":0.6,"DRLL":0.73,"UGA":0.73},"content_text":"China's oil consumption is projected to decline 4.9% to 753 million tons in 2026, reversing a 3.6% increase a year earlier, Reuters reported Thursday, citing a report by PetroChina's (HKG:0857, SHA:601857) Planning and Engineering Institute.The institute forecasts China's crude oil production to rise 0.5% to 217 million tons this year, while refined oil consumption is expected to fall 6.4% to 324 million tons, according to the report.Overall oil demand is reportedly expected to peak and then decline to around 700 million tons by 2030, though jet fuel consumption is forecast to edge up 0.2%.PetroChina did not immediately respond to MT Newswires' request for a copy of the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.44.0","shortVersion":"4.44.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2644305100","isCrawlerRequest":true}