The Pulse Today
BREAKING
Sajib Pledges Aid for 50,000 Flood-Affected People in SonargaonMP Azharul Islam Mannan Distributes Relief Funds to Needy Families in SonargaonParliament Proposes Anti-Gambling Bill with Maximum 7-Year Prison PenaltyOpenAI Unveils 'Schedule' Feature to Boost Task Management in AI ChatbotPrime Minister Tareq Rahman Arrives in Dalian, China for Economic ForumEurope Confronts Intense Heatwave; Conditions Predicted to DeteriorateGold Prices Rise Again in Bangladesh Amid Global Market IncreaseSpaceX's Nasdaq Debut Values Company at Over $2 Trillion, Surpassing AmazonStudy Reveals AI Data Centers Contribute to Local Temperature IncreasesNarayanganj BNP Youth Wing Holds Rally to Welcome New Central CommitteeCarney Highlights Canada's Investment Appeal Amidst Rising US Trade TensionsFormer Google Engineer Warns of Uncontrollable AI with Potential to 'Kill Us All'Matt Renshaw's Maiden ODI Century Powers Australia to Victory Over ZimbabweMinister Mintoo Urges Collective Action to Combat Social Decay and CorruptionMinister Kaikobad Calls for Hassle-Free 2027 Hajj Operations in BangladeshInaugural Standing Committee Meeting on Information Ministry Focuses on Accountability and TransparencyTaskin Ahmed and Ebadot Hossain Inspire Fast Bowlers at Nationwide Talent Hunt LaunchFlick endorses 'self-confident' Yamal's bid for Ballon d'OrEnhanced Gas Supply Boosts Optimism Among Bangladesh Industrial BusinessesPresident Alamgir Urges Increased Investment in Sylhet’s Tourism and Tea IndustriesRobi and BCB Initiate Nationwide Search for Promising Fast Bowlers and SpinnersSaudi Crown Prince Mohammed bin Salman Meets Egypt's Sisi Amid Rising Houthi ThreatBangladesh's RMG Exports to US Increase by 11.42% in July-AugustMoody's Upgrades Bangladesh's Sovereign Outlook to Stable Amid Improved External PositionDhaka Stock Exchange Sees Rebound from Bargain Hunting and Improved Investor Confidence

China's Oil Demand Declines, But Economic Resilience Persists

China's oil demand has decreased by 9%, yet its economy remains stable.

By Staff Correspondent
Share
চীনে তেলের চাহিদা কমছে, কিন্তু অর্থনীতি ভেঙে পড়ছে না

China's oil demand has decreased by 9% compared to pre-Iran war levels, according to JPMorgan. Despite this significant drop, the economy has not collapsed. This contrasts with the 2% global decrease during the 2008 financial crisis. China's resilience is attributed to strategic oil reserves and a shift towards electric vehicles and public transport.

Shift in Consumer Behavior

Consumers in China are increasingly opting for electric vehicles (EVs) and public transport over fossil fuel-dependent cars. This shift is driven by rising fuel prices and a growing awareness of alternative energy sources. The trend is also visible in other parts of the world, indicating a potential long-term reduction in global oil demand.

Historical Context

Similar shifts occurred during the 1973 oil crisis, leading to lasting changes in energy policies and consumer behavior. The current crisis may similarly result in permanent changes in oil consumption patterns.

FAQ

Why has China's oil demand decreased?
Due to strategic oil reserves and a shift towards electric vehicles and public transport.
How is China's economy performing?
It remains stable despite the decrease in oil demand.

Topics

Comments

More in business

See all →

Latest stories