Recently, Fereidun Fesharaki, chairman of energy consulting firm Facts Global Energy, said at an energy seminar that over the past 20 years, the oil market has been supported by Chinese demand, but he predicted that China’s demand for oil will reach its peak, so the focus needs to shift to India or other countries to increase demand-side elasticity.

 

Foreign media reported that Fesharaki predicted that China's oil demand will reach its peak in the next three to five years. "For 20 years, the oil market has relied on China to support the market. This story is about to end." Shiqing Xia, an analyst at energy consulting firm Wood Mackenzie, also believes that "China's oil demand will peak in 2027. After that, as the country actively pursues energy transformation and long-term overall economic growth slows, oil demand will turn to a long-term decline."

 

Shiqing Xia also said that in addition to China, the overall demand for oil in India and other emerging economies in Southeast Asia will continue to grow in 2040. He believes that India can replace China in 2030 and become the world's largest oil demand growth center. He also boldly predicts that India will and Southeast Asia will be Asia’s growth engines in the next 20 years.

 

In addition, India's gross domestic product (GDP) growth rate in the second quarter announced was as high as 7.8%, the largest growth rate in a year. Therefore, the market is also very optimistic that India will surpass Japan and Germany in 2030 and become the third largest in the world. Economy.