Oil demand growth set to slow as clean energy takes its place

As China's economy becomes more consumer-oriented, the rate of growth in oil demand in the country is expected to slow down through 2023, a recent report said.

Considering factors including better efficiency, the fast development of electric vehicles and the restructuring of the energy mix, the growth rate of oil demand in China will gradually slow down during the next six years, said Neil Atkinson, head of the oil industry and markets division at the IEA.

He made the remarks during the China Launch of the IEA Market Report Series: Oil 2018 held in Beijing on Monday.