TOKYO — China’s oil demand is set to peak in 2027, the International Energy Agency said, a trend that it calls a “fundamental transformation” in the global energy market.
China has accounted for 60% of the growth in global oil demand in the past decade and slowing demand in the world’s second largest economy is set to contribute to a significant surplus in oil by the end of this one, according to the energy watchdog’s annual forecast on the medium term oil market.
