A view shows part of the state oil firm Petroleos Mexicanos (Pemex) refinery in Salamanca. The consultancy expects demand growth to be around 250,000 bpd to 350,000 bpd, less than half of what it was in 2019 — demand growth will not return to the million barrels per day seen between 2015 and 2020. China's oil demand growth this year could be half of pre-Covid 2019 levels, according to Eurasia Group, as key segments of the world's second-largest economy struggle from a slowdown. The incremental fuel demand growth in China that the oil industry has come to literally bank on over the past two decades is no more. China will lose its spot to India as the primary driver for global oil demand through 2030, the International Energy Agency said in a report.

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Persons: Petroleos, Linda Giesecke Organizations: Eurasia Group, International Energy Agency, JPMorgan, CNBC Locations: Salamanca . State, Guanajuato, Mexico, Eurasia, China, India