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.