China's #1 Oil Company Says Peak Gasoline Demand Has Already Passed

05 Sep 2023 | Abstracted from New Atlas

"Chinese new car buyers are now choosing "new energy vehicles"...at a rate of 37.8%, a percentage which has rocketed up from 30.0% in 2022, 15.5% in 2021 and just 5.4% in 2020...EVs were already displacing some 15 million tons of Chinese oil product sales in 2023."

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