China’s Oil Demand Seen Peaking by 2030 as EV Adoption Accelerates

China’s oil consumption is projected to crest by 2030 as the country accelerates its shift toward alternative energy, according to a report from the research arm of China National Petroleum Corp, cited by China Daily. The study highlights the rapid adoption of electric vehicles as a key factor eroding long-term demand for crude, implying a structural headwind for global benchmarks such as Oil – Brent Crude and Oil – US Crude. For investors, a potential demand peak in the world’s largest crude importer adds to existing concerns about the trajectory of global oil consumption and could influence long-horizon pricing, capital expenditure decisions, and the risk premium embedded in energy markets.

Over the past month, both major crude contracts have traded lower, reflecting a mix of demand uncertainty and broader macro risk. Oil – US Crude has declined about 6.0% over the last 30 days, while Oil – Brent Crude is down roughly 6.2%, moves consistent with the market reassessing medium-term demand growth, particularly from Asia. From a short-term technical perspective, each contract currently carries a 1-day signal of Sell for Oil – US Crude and Sell for Oil – Brent Crude, indicating near-term bearish momentum that aligns with the weaker price trend. Investors can explore more updates, prices, and analysis across global markets at Commodities.