China Is Learning to Use Less Oil—and That's a Bigger Deal Than It Sounds

Three months into the biggest oil supply disruption in modern history, China appears to have discovered something that should make oil bulls at least a little uncomfortable. It can get by on less fuel than anyone thought. China's gasoline and diesel demand has been falling for years as electric vehicles gained market share and economic growth slowed. But the latest drop has surprised even seasoned observers. According to Reuters, gasoline sales at Sinopec, China's largest refiner and fuel retailer, fell 8% year over year in April, while diesel…