During the past decade,China\'s petroleum industry had experienced an extraordinary process,the development of domestic oil supply and demand was unbalanced.China\'s oil consumption continues to grow with a compound annual growth rate of 5.1％,making China the world\'s second largest oil consumer,the share of oil in primary energy consumption mix increased steadily and accounted for 20％ in 2019.Oil proved reserves increased grow at a low rate with a compound annual growth rate of 2.1％ from 2008 to 2018.China\'s proved reserve ranked the 14th in the world in 2019.Oil production increased and exceeded 200 million in 2010,reached the historical peak in 2015,and then continued to decline from 2016 to 2018.China\'s Oil imports are growing rapidly and its import dependency has continued to rise.In 2017,China surpassed the United States to become the world\'s largest oil importer.In the past decade,the import dependency had increased by more than 20％and reached nearly 72％ in 2019.China\'s oil consumption and production may decline in the next three decades,and peak demand is likely around 2025.China\'s oil industry is still full of challenges and uncertainties in the future.Several factors,such as new coronavirus pandemic,energy transition,oil-price change,technology progress and unconventional oil resource availability,will affect the oil development trend in China in the next three decades.