PetroChina Predicts Peak in Oil Consumption for Transport by Next Year Amid Rising EV Uptake in China
Thursday, 25 April 2024, 10:30
Rapid Adoption of Electric Vehicles
PetroChina, the nation's largest oil and gas producer, anticipates a peak in oil consumption in China's transport sector by next year due to the increasing popularity of electric vehicles (EVs).
Implications for Petrol Consumption
The surge in EV adoption is likely to curb petrol consumption levels, indicating a transformation in the traditional fuel preferences of Chinese consumers.
- This transition towards EVs will impact the demand for oil products and could potentially reshape the energy landscape in China.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.