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Sinopec Chairman Says China's Oil Demand 'Very Likely' Peaked Last Year, Earlier Than Previous Estimates
Sinopec Chairman Hou Qijun stated Monday at an earnings briefing in Hong Kong that clean energy development, electrification, and low-carbon goals likely led to the peak. The company had previously forecast usage to top out in 2027, while the government targets oil and coal consumption to reach their limits by 2030.
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