China's oil demand continues to decline, driven in part by the growing popularity of electric vehicles (EVs). According to new data, the Asian nation's oil consumption has dropped significantly in recent years, with many attributing this trend to the increasing adoption of EVs. As the global energy landscape shifts, China's reduced oil demand is not only a boon for the environment but also a significant development in the country's ongoing efforts to reduce its reliance on foreign oil. Meanwhile, the ongoing conflict in Iran is putting pressure on global oil markets, with many experts warning of potential supply disruptions in the months to come.
EVs drive down China’s oil demand as Iran war slogs on E&E News by POLITICO
