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Cratering oil use in China shows the death spiral that could end oil

·Sep 3, 2026

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Chinese oil use dropped drastically in Q2 of this year, leading to an overall drop in emissions for the country. That alone is a big deal – but the potential effects of the world’s second-largest oil consumer rapidly passing peak oil could have massive effects on the world’s oil markets.

For the past few years, it has seemed that China was in the midst of a plateau in both emissions and oil use. Nobody was ready to declare that it had passed the peak of either, wondering whether the graphs might turn upwards from here. But with new Q2 numbers showing a drastic drop in oil use and a consequent drop in total CO2 emissions, it might be that time.

This article is an excerpt. To read the full content, visit the original source. Electrek

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