Oil consumption to peak by 2025

Report: Nation's carbon emissions to hit cap targets five years ahead of Paris Agreement goal

China expects to achieve its national oil consumption cap target of 720 million metric tons by 2025, five years ahead of its 2030 Paris Agreement target on carbon emissions, according to findings of the China Oil Consumption Cap and Policy Research Project.

The project, which was launched in January 2018 with the Natural Resources Defense Council and Energy Foundation China as the coordinating organizations, combines efforts from government think tanks, academic institutions, and industry associations. It aims to help address climate change and reduce environmental pollution in China, the world's second largest oil consumer and largest oil importer, by reducing oil consumption and helping the oil industry to tread a safe, green, and more efficient path.