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Center for Energy Studies

China's Evolving Oil Demand

Gabriel Collins

China's Evolving Oil Demand.

This working paper analyzes three key factors that characterize the “new normal” of China’s oil demand: slowing overall demand growth, gasoline replacing diesel as the demand driver, and a substantial rise in refined products exports. The paper argues that greater demand volatility in China stands to have profound effects on the global crude oil and refined products markets.