ExxonMobil cuts forecast for Chinese oil demand
The slowdown of the Chinese economy has led to reduction of the forecast on annual demand growth to 2.2% in 2025, which is by 10% lower than the previous estimate, writes The Wall Street Journal citing Exxon Mobil. Experts point out that the peak of China's demand for energy commodities will come in 2030. Representatives of the consulting firm ESAI Energy previously wrote that China's demand for oil, from now and until 2030 will be exactly half less than in the previous 15 years. Royal Dutch Shell, Chevron, and a number of other companies that are beginning to shift to gas projects have envisaged this negative trend.