EVs drive down China’s oil demand as Iran war slogs on

Electric vehicles are displacing more oil demand in China than expected as the war in Iran disrupts crude supplies, accelerating a shift in transportation that could have lasting implications for global oil markets.

What you’ll learn

• Why EVs displaced 1.5 million barrels of oil a day in China during the second quarter, nearly double expectations
• How disruptions to oil supplies from the Iran war and the near-total closure of the Strait of Hormuz could accelerate China’s shift away from gasoline and diesel
• Why changing EV use, charging patterns and global oil volatility could reshape Chinese and global oil demand in the years ahead

Why this matters

China is the world’s largest oil importer and a dominant force in electric vehicle manufacturing, making changes in its transportation demand is consequential for global energy markets. POLITICO Pro helps organizations track the policy, geopolitical and market developments that could influence oil demand, electrification, energy security and long-term investment strategy.

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