OPEC and the IEA expect China's oil demand to show growth in 2023 of 7.6% and 12.1%, respectively.
OPEC has dismissed fears of that demand growth for oil in China is fading, describing negative sentiment as "overblown" in a recent report.
OPEC's forecasts show China accounting for 24.6% of global oil demand growth in the first half of 2024, according to Reuters calculations.
Consultancies Wood Mackenzie, Rystad Energy and Energy Aspects respectively forecast China's first-half 2024 oil demand to grow by 3.7%, 4.0% and 4.4% versus the same period in 2023.
Energy Aspects expects first-half diesel demand to be flat from a year earlier.
Persons:
Aly, Consultancies Wood Mackenzie, Rystad, Lin Ye, Xia, Andrew Hayley, Simon Cameron, Moore
Organizations:
REUTERS, Rights, of Petroleum, International Energy Agency, OPEC, Rystad Energy, JET, Reuters Graphics Reuters, National Bureau of Statistics, Thomson
Locations:
Zhuhai, China, Rights BEIJING, OPEC, Russia, Beijing