Asia Faces Zero Growth in Demand For Petroleum Products

Earlier this week, China’s Sinopec reported a plunge in its first-half profit, citing subdued fuel demand as a reason. According to Kpler, sluggish fuel demand is a global trend, and it is set to extend into next year as well. The energy research and analytics company reported this week that it expected global fuel demand to rise by some 840,000 barrels daily, which would accelerate modestly to 880,000 barrels daily in 2026. Kpler analyst Esteban Moreno cited weakened consumer confidence as one driver of the fuel demand trends and the proliferation…