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·Confidence 85%

China's EV Sales Target to Reach 70% by 2030, Impacting Oil Demand

Oil ↓ Very strong

Key takeaways

  • Oil: Oil — Very strong bearish
  • China plans for electric and hybrid vehicles to make up 70% of passenger car sales by 2030, further reducing oil demand amid rising energy prices.
#China#Electric Vehicles#Oil Demand#Energy Policy

Analysis

China plans for electric and hybrid vehicles to make up 70% of passenger car sales by 2030, further reducing oil demand amid rising energy prices.

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