China’s state-owned oil and gas giant CNPC has forecast a peak in oil demand coming to China by 2030. The level at which demand is seen peaking is between 780 and 800 million metric tons annually. One metric ton of crude is equal to almost 8.5 barrels. The report, as carried by Reuters, is an update on an earlier estimate by CNPC’s Economics and Technology Research Institute, which saw oil demand peaking at 780 million tons by 2030. In its report, the Economics and Technology Research Institute also said that by 2030, petrochemicals…
