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KLCI Slides as Profit-Taking Hits Blue Chips, Ringgit Holds Firm

Malaysia’s benchmark index retreated as  profit-taking in key heavyweights  weighed on sentiment, while overall market activity remained active. Summary FBM KLCI fell 0.83% to 1,684.93 , dragged by losses in banking and selected large-cap names, despite steady trading participation. Market Performance FBM KLCI :  1,684.93 (-0.83%) FBM Mid 70:  -0.00% (flat) FBM Small Cap:  -0.23% FBM ACE:  +0.20% Broad market was mixed , with weakness concentrated in large caps. Market Breadth & Trading Activity Total volume:  3.54 billion shares Total value:  RM4.19 billion Gainers:  456 Losers:  678 Unchanged:  550 Market breadth turned negative , reflecting cautious sentiment. Top Movers – KLCI Gainers Axiata (6888.MY)   +1.54% Petronas Gas (6033.MY)   +1.18% Sunway (5211.MY)   +1.15% Losers Hong Leong Bank (5819.MY)   -3.29% Maybank (1155.MY)   -3.02% CIMB (1023.MY)   -2.47% Banking sector weakness was the main ...
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Sinopec: China’s Oil Demand Peaks by 2027 Amid EV and LNG Growth

China, the world’s largest oil importer, is projected to hit its oil consumption peak by 2027, driven by the shift to electric vehicles (EVs) and liquefied natural gas (LNG)-powered trucks, according to Sinopec, Asia's largest refiner.

Key Highlights

Oil Demand Peaks

  • 2027 Peak: Oil consumption will plateau at 800 million metric tonnes (~16 million barrels per day).
  • 2024 Outlook: Demand is projected to drop to 750 million tonnes, marking only the second decline in two decades.

Key Factors Behind the Peak

  1. Shift to Cleaner Energy:

    • Electric Vehicles:
      • Displacing 26 million tonnes of gasoline (~15% of total consumption).
      • Gasoline demand set to decline 2.4% to 173 million tonnes by 2025.
    • LNG-Fueled Trucks:
      • Account for 22% of truck sales in 2024.
      • Diesel demand expected to drop 5.5% to 174 million tonnes by 2025.

  2. Sectoral Shifts:

    • By 2060, the petrochemical sector will consume 55% of oil, up from 22% in 2024.

  3. Aviation Fuel:

    • The only refined product expected to grow in 2025, rising 7% to 45.5 million tonnes.

Geopolitical and Economic Uncertainty

  • Trump’s Iran Policy:
    • Possible tightened sanctions on Iranian oil exports (~1.5 million barrels/day), most of which are purchased by China.
    • Potential reduced geopolitical risks in Ukraine and the Middle East, which could lower oil prices.

Natural Gas Demand Trends

  • Peak Consumption Revised Higher:
    • Forecast to plateau at 620 billion cubic meters (bcm) between 2035–2040, up from last year’s estimate of 610 bcm by 2040.
  • 2025 Projection:
    • Natural gas consumption to rise 6.6% to 458 bcm, driven by:
      • Increased LNG use in trucking.
      • New gas power generation.
      • Higher industrial and residential demand.

Carbon Emissions Forecast

  • Revised forecast for energy-related carbon emissions to peak between 10.8 billion and 11.12 billion tonnes before 2030 (up from last year’s estimate of 10.1 billion tonnes).
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