While China’s overall oil demand still appears stable, its composition is shifting gears rapidly. Gasoline and diesel demand seems to have peaked: China’s total demand for these transportation fuels in 2024 will be 3.6% lower than in 2021, according to IEA estimates.
China’s housing bust is partly to blame, as a slowdown in construction led to weaker demand for diesel used in machinery.
But a bigger story comes from China’s rapid shift in personal transportation, and especially the rise of electric vehicles. More than half of the passenger cars sold in the country in recent months were new-energy vehicles, which includes plug-in hybrids, according to the China Passenger Car Association. Largely because of that trend, China’s gasoline demand in 2025 is expected to be 6.4% lower than the peak in 2021, according to IEA projections.
While China’s overall oil demand still appears stable, its composition is shifting gears rapidly. Gasoline and diesel demand seems to have peaked: China’s total demand for these transportation fuels in 2024 will be 3.6% lower than in 2021, according to IEA estimates.
China’s housing bust is partly to blame, as a slowdown in construction led to weaker demand for diesel used in machinery.
But a bigger story comes from China’s rapid shift in personal transportation, and especially the rise of electric vehicles. More than half of the passenger cars sold in the country in recent months were new-energy vehicles, which includes plug-in hybrids, according to the China Passenger Car Association. Largely because of that trend, China’s gasoline demand in 2025 is expected to be 6.4% lower than the peak in 2021, according to IEA projections.
"For Telegram, accountability has always been a problem, which is why it was so popular even before the full-scale war with far-right extremists and terrorists from all over the world," she told AFP from her safe house outside the Ukrainian capital. On December 23rd, 2020, Pavel Durov posted to his channel that the company would need to start generating revenue. In early 2021, he added that any advertising on the platform would not use user data for targeting, and that it would be focused on “large one-to-many channels.” He pledged that ads would be “non-intrusive” and that most users would simply not notice any change. The Dow Jones Industrial Average fell 230 points, or 0.7%. Meanwhile, the S&P 500 and the Nasdaq Composite dropped 1.3% and 2.2%, respectively. All three indexes began the day with gains before selling off. After fleeing Russia, the brothers founded Telegram as a way to communicate outside the Kremlin's orbit. They now run it from Dubai, and Pavel Durov says it has more than 500 million monthly active users. Perpetrators of such fraud use various marketing techniques to attract subscribers on their social media channels.
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