Vitol head of research:
- China will continue to play an important role in global oil demand.
- Global oil demand to peak only in the 2030s, later than expected due to lower pick-up in EVs and commitments to environmental targets
- LPG, naphtha, and jet fuel to drive global oil demand growth in 2025-2030
- China is restarting oil demand growth on rising domestic crude output and net petroleum imports
- China's road transportation oil demand has peaked, with petrochemicals driving consumption growth
- China LNG truck sales fell sharply in September as the price gap with diesel narrowed
