Goldman Sachs sees one-third of China’s Q2 petrochemical oil demand weakness reversed by August

Goldman Sachs: Goldman Sachs is a global investment bank and financial services firm providing investment banking, asset management, and research services across markets. In October 2026, the firm published analysis indicating that weakness in China’s Q2 petrochemical oil demand is partially reversing, with nearly one-third of the shortfall recovered by August. Oil Demand Outlook: Goldman Sachs anticipates that petrochemicals will serve as the primary long-term driver of global oil demand growth as road transportation peaks. China Energy Trends: Recent Goldman Sachs research highlights a moderate recovery trajectory for Chinese oil imports and related demand indicators into the fourth quarter.