Events such as the Winter Olympics near Beijing and Lunar New Year have impacted crude demand
Chinese crude demand growth to slow
China’s demand is set to increase again this year, but at a slower pace after hitting yet another record high in 2021
China’s energy demand is being buffeted by mounting economic headwinds and one-off short-term disruptions, including February’s Winter Olympics near Beijing. Oil demand in particular could decline quarter-on-quarter in Q1 2022 because of reduced refinery throughput in northeast China, owing to governmental desire for improved air quality during the games and March’s Winter Paralympics. Both events likely impacted short-term crude demand along with early February’s week-long Lunar New Year holiday, as businesses shut for the holiday. In addition to refining demand, other emissions-intense activities such as factory operations, power generation and general traffic movement were also asked to t
Also in this section
12 December 2025
The latest edition of our annual Outlook publication, titled 'The shape of energy to come: Creating unique pathways and managing shifting alliances', is available now
12 December 2025
The federal government is working with Alberta to improve the country’s access to Asian markets and reduce dependence on the US, but there are challenges to their plans
11 December 2025
The removal of the ban on oil and gas exploration and an overhaul of the system sends all the right messages for energy security, affordability and sustainability
10 December 2025
The economic and environmental cost of the seven-year exploration ban will be felt long after its removal
