According to the Dow Jones news on March 16th, CLSA indicated that the increase in China's oil demand is expected to slow down in the next five to ten years, as the Chinese government is actively seeking to replace fossil fuels with clean energy such as natural gas. CLSA said decline in the oil demand is inevitable. “While coal is going to be the biggest loser in this expected shift in energy supply structure, oil will be affected”, the investment bank said. The Chinese government's data shows that China's natural gas import volume increased by 11.5 percent in January & February, which is mainly driven by rising LNG imports.
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